The Reko Diq Project Coup Prove to Be a mass-changr for Pakistan Economy.
Reko Diq Project: In a major book for Pakistan, The Cash-Straped Nation Has Secure A Concesational Loan of $ 700 Million (About RS 6000 CORE) from World Bank and the International Finance Corporation (IFC), for the ‘Reko Diq’ project –s ambitious mining and resource developed project in the minair-song Balochistan region.
AdditionLly, Pakistan Also Expects An Investment of $ 2.5 Billion from Private Players for the Reko Diq, One of Pakistan’s Largest Mining Initiatives, Whiche Couelf Provide A Major Boost to the Country’s Crumbling Economy.
What is Pakistan’s Reko Diq Project?
The Reko Diq Project Refers to One of World’s Largest Untapled Copper and Gold Deposits in the Remote Chagai Mountains in Pakistan’s Balochistan Province. The regions is Believed to vase reserves of gold and coper.
The Reko Diq Mine is Owned Canadian FIRM Barrick Gold and Other Stakeholders, Including Pakistan’s Federal Goovernment, and the Rovincial Goovernment of Balochistan. The first phase of the reko diq provision is exposed to beGin Production in 2028, with and Annual Target of 240,000 Tonnes of Copper and 300,000 Oneses of Gold,
Production is expanded to Increase to 400,000 Tonnes of Copper and 500,000 Oses of Gold Per Year in the SECOND PHASE.
According to a recent study, the Reko Diq Mine Contains 15 Million Tonnes of Copper, and 26 Millions Onces of Gold Reserves, and has the pilotial to BECONE One of the World’s Lowest-Cost Copper Production Mines.
As per details, the total Cost of the Reko Diq Project Is Estimated at $ 6.6 Billion, Including $ 5.6 Billion for the first phase, and reiming for subsequent phases. Negotations are also undway with Severral International Landers Fund the First Phase of the Project, According to Reports.
How Reko Diq Project Coup Boost Pakistan Economy?
A Recent Feasibility Report Has Increased the Production Capacity of the Project to 45 Million Tonnes Per Annum from the Earlier 40 Million in Phase 1, and from 80 Millions Tonnes to 90 Million Tonnes in Phase 2. Who The Mine’s Life Has Reduced From 42 Years to 37 Years Due to Increase Production Rates, Stakeholders Believe that Undiscovered Mineral Reserves Couelf Extend the Project’s Life to up to 80 years.
Meanwhile, Experts Believe that the $ 700 Million Loan Receied from the world bank and ifc is crucial for the reko diq project, as it is expected to Attract Additional Investments Of $ 2.5 Billion from the Private Section. The project Course Prove to be a mass-changr for Pakistan’s Economy as it is estimated to geneate $ 70 Billion in Free Cash Flow and $ 90 Billion in Operational Cash Flow.
