Riko Deq mines: Raisani hails project handover

Published: December 11, 2010
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Chief Minister Balochistan Muhammad Aslam Raisani. PHOTO: ONLINE

Chief Minister Balochistan Muhammad Aslam Raisani. PHOTO: ONLINE

QUETTA: 

The Chief Minister Balochistan, Nawab Muhammad Aslam Khan Raisani, has said that the provincial government itself will run the multi-billion-dollar Riko Deq copper-gold project in Chagai district.

Talking to newsmen after the Balochistan Assembly session here on Friday, the chief minister welcomed the decision of Ecnec to hand Riko Deq project to the Balochistan government. “Now that we have Ecnec’s approval, we will hire a consultant and a project director to begin the project,” he said.

Balochistan will receive Rs120 billion from the federal government as gas development surcharge arrears. This amount will be spent for funding the Riko Deq project, Raisani said, when asked whether the Balochistan government has enough resources to run the project.

Raisani clarified that the provincial government has not signed any agreement with the Tethyan Copper Company Pakistan (Pvt) Limited (TCC) for mining or refining the metal. The firm had been hired solely as an exploration company. The chief minister said exploration charges will be paid to the company. “We will call a third party to estimate the expenditures made by TTC for which the government will pay.”

Raisani emphasised that Gwadar port and Riko Deq project were Balochistan’s assets and no one could take them away from it. “We have the required technical skill to run major projects like Riko Deq and Gwadar,” he said.

Balochistan Institute of Technical Education is training youths who will be able to help run the Riko Deq project, he added. The chief minister announced that the government will soon establish technical educational institutes to overcome the shortage of technical and qualified people.

According to the feasibility report submitted by TCC, initial mine development investment for Reko Deq project is estimated at $3.3 billion (about Rs272 billion) which includes development of basic infrastructure like power, water and concentrate pipelines, roads, and port development. Estimated payable metal production over a 56-year mine life is 22 billion pounds of copper (10 million tons) and 13 million ounces of gold.

Published in The Express Tribune, December 11th, 2010.

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Reader Comments (6)

  • akhtar
    Dec 10, 2010 - 9:44PM

    Go ahead Bhamboo(expedite). people behind you.The great chief of Sarawan your performance appreciable.Recommend

  • khan
    Dec 10, 2010 - 10:20PM

    I hope Raisani delivers on his words.

    Balochistan has been treated like a colony for several decades now. If I was a Baloch I would have taken to the hill by now to oppose the colonialists who don’t give a damn about me, my family or my heritage and are only interested in how much money they can stuff in to their bank accounts in the name of ‘patriotism’..Recommend

  • Jibran
    Dec 11, 2010 - 2:20AM

    Big words such as safeguarding the assets of the Baloch people are not enough in them self. No public sector entity has been run well in Pakistan…case in point Pakistan Steel, Railways, PIA, NICL, WAPDA, a range of power generation units and the big 5 banks which at one time were government owned and suffering huge losses. You just don’t have the incentives placed for such entities to perform well. I doubt even that the Balochistan government can muster the technical expertise required for this and corruption will be rife in this project. A public-private partnership of sorts would have been much better. Lets bid adieu already to a failed project being initiated.Recommend

  • Muhammad Ali Imran Ch
    Dec 13, 2010 - 11:26AM

    I am realy happy to learn about the decision of ecnec to hand over copper/ gold project to balochistan Govt. Now Balochis should concentrate on exploring the gold/ copper and stop killing innocent Punjabis. Because “God helps those who help theselves”. Recommend

  • Tax Payer
    Dec 14, 2010 - 7:15PM

    I wish it turns out to be a fortune for the CM and his crcronies.
    In anticipation – the next Government will be publishing White Paper on this :)

    Good Luck if you are sincere.Recommend

  • Sajjad Ali
    Dec 18, 2010 - 1:00PM

    MAY ALLAH BE WITH US…
    It was really great decision by ECNEC, they have stopped the foreign exploitation in Pakistan and saved the future. I salute and give high appreciation for all those who put the petition in Supreme court of Pakistan and follow up in the right direction, and all those people involve in media industries, analysts, private and public sector support in any kind of awareness and supporting in saving the national assets.

    A STANDUP ROUND OF APPLAUSE FOR ALL OF THEM.Recommend

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