Posted in | News | Gold | Copper | Discoveries

$3.2 Billion Investment in Pakistan Gold/Copper Resource

A potential copper and gold deposit in Balochistan, Pakistan has attracted a fresh investment of $3.2 billion via a joint venture.

The joint venture comprises of Barrick Gold Corporation (NYSE:ABX) from Canada and Tethyan Copper Company from Chile. The new investment in Pakistan's Reko Diq project will allow exploration activity to begin by 2014.

Related Stories

View Larger Map

Aaron Regent the president and CEO of Barrick Gold Corporation was hosted in a reception by Pakistani Federal Secretary of Finance Salman Siddique. Mr. Regent said on the occasion that the joint venture to develop Reko Diq would turn it into a world class mine with transfer of technology and human resource development.

It would benefit not only the province of Balochistan but also the economy of Pakistan. Development of the new mine is likely to create 11,000 jobs in the region. The actual project operation will also provide about 25,000 jobs to the locals including technical human resources. The mine is likely to have a 56 year life.

Citations

Please use one of the following formats to cite this article in your essay, paper or report:

  • APA

    Barrick Gold Corporation. (2019, February 18). $3.2 Billion Investment in Pakistan Gold/Copper Resource. AZoMining. Retrieved on November 24, 2024 from https://www.azomining.com/News.aspx?newsID=142.

  • MLA

    Barrick Gold Corporation. "$3.2 Billion Investment in Pakistan Gold/Copper Resource". AZoMining. 24 November 2024. <https://www.azomining.com/News.aspx?newsID=142>.

  • Chicago

    Barrick Gold Corporation. "$3.2 Billion Investment in Pakistan Gold/Copper Resource". AZoMining. https://www.azomining.com/News.aspx?newsID=142. (accessed November 24, 2024).

  • Harvard

    Barrick Gold Corporation. 2019. $3.2 Billion Investment in Pakistan Gold/Copper Resource. AZoMining, viewed 24 November 2024, https://www.azomining.com/News.aspx?newsID=142.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
(Logout)
Your comment type
Submit

Newsletters you may be interested in

See all Newsletters »

Terms

While we only use edited and approved content for Azthena answers, it may on occasions provide incorrect responses. Please confirm any data provided with the related suppliers or authors. We do not provide medical advice, if you search for medical information you must always consult a medical professional before acting on any information provided.

Your questions, but not your email details will be shared with OpenAI and retained for 30 days in accordance with their privacy principles.

Please do not ask questions that use sensitive or confidential information.

Read the full Terms & Conditions.

Provide Feedback