Magsi dissatisfied over mineral agreements

Magsi dissatisfied over mineral agreements

By Malik Siraj Akbar

QUETTA: Balochistan Governor Nawab Zulfiqar Ali Magsi has expressed dissatisfaction over the agreements concluded on the exploitation of mineral wealth of Balochistan, demanding a radical review of all agreements on the Saindak copper and gold project, Reko Dik copper and gold project and Duddar lead and zinc project.

Speaking on the occasion of a briefing organised by the Geological Survey of Pakistan (GSP) on mineral wealth of Balochistan, the governor remarked that the Baloch people were the real owners of the mineral wealth and they had not yet been benefited from the wealth. He said the government should take advantage of the mineral wealth instead of hiring foreign companies or awarding contracts to multi-national companies (MNCs). He invited the private sector to play its destined role to make use of the wealth. Magsi was informed that good-quality copper was available in the Khuzdar and Lasbela regions. He was told that more than 5,000 tonnes of gold worth $18 billion was available in Saindak.

On the Lead and Zinc Project of Lasbela, a Chinese company, MCC, would spend $72 million to exploit the metals. The Balochistan government would get Rs 380 million as royalty on three main mineral projects, while the total value of Reko Dik mineral wealth was over $65 billion, the governor was informed.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: