{"id":83786,"date":"2022-02-10T12:18:40","date_gmt":"2022-02-10T07:18:40","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=83786"},"modified":"2022-02-16T11:21:17","modified_gmt":"2022-02-16T06:21:17","slug":"ecc-saindak-minng-lease-15-years","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/ecc-saindak-minng-lease-15-years.html","title":{"rendered":"ECC extends Sandak Copper-Gold project lease for 15 years"},"content":{"rendered":"\n<p>Islamabad: The Economic Coordination Commission (ECC) on Wednesday (February 09) extended the lease of the Sandak Copper-Gold Mines project to a Chinese firm for another 15 years, news sources reported. The lease contract has been signed between Saindak Metals Ltd (SML) and Metallurgical Construction Corporation (MCC) of China.\u00a0 \u00a0 According to a report released this week, the Sandak Copper-Gold project achieved a total profit of USD 74.71 million last year. <\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/reko-diq-project-balochistan-to-get-higher-share-in-profit.html\" target=\"_blank\" rel=\"noreferrer noopener\">Reko Diq project: Balochistan to get higher share in profit<\/a><\/p>\n\n\n\n<p>The initiative was founded in 2001 to explore mines and minerals in Balochistan and develop a consistent supply of precious metals. The most recent contract extension is the fourth, with the last extension set to expire on October 31, 2022.&nbsp;<\/p>\n\n\n\n<p>Reportedly, the cabinet meeting chaired by Finance Minister Shaukat Tareen also approved conducting the project&#8217;s annual review by professional agencies. The meeting also took several decisions regarding the energy and petroleum sector. Some of the decisions approved are as follows:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Issuance of a sovereign guarantee or standby letter of credit (SBLC) of PKR 6.944 billion as an operational Viability Gas Fund for the development of the <a href=\"https:\/\/www.zameen.com\/news\/ecnec-approves-projects.html\" data-type=\"post\" data-id=\"81745\" target=\"_blank\" rel=\"noreferrer noopener\">Sialkot-Kharian Motorway&nbsp;<\/a><\/li><li>The summary of the Ministry of Energy&#8217;s calculation of the RLNG sale price for Pakistan LNG Ltd&#8217;s (PLL) delivery of 150 million cubic feet per day to Karachi Electric (KE). The RLNG will be used for the generation of 900 megawatts of electricity.&nbsp;<br><strong>Read:<\/strong>&nbsp;<a href=\"https:\/\/www.zameen.com\/news\/ecc-grant-clear-roosevelt-hotel-liabilities.html\" target=\"_blank\" rel=\"noreferrer noopener\">ECC approves grant to clear liabilities of PIA\u2019s Roosevelt Hotel in NY<\/a><\/li><li>Amendments to the Petroleum Products (Petroleum Levy) Ordinance&#8217;s Second Schedule and policy recommendations for RLNG pricing<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Economic Coordination Commission (ECC) on Wednesday (February 09) extended the lease of the Sandak Copper-Gold Mines project to a Chinese firm for another 15 years, news sources reported. The lease contract has been signed between Saindak Metals Ltd (SML) and Metallurgical Construction Corporation (MCC) of China.\u00a0 \u00a0 According to a report released this week, the Sandak Copper-Gold project achieved a total profit of USD 74.71 million last year. Read: Reko Diq project: Balochistan to get higher share in profit The initiative was founded in 2001 to explore mines and minerals in Balochistan and develop a consistent supply of precious metals. The most recent contract extension is the fourth, with the last extension set to expire on October 31, 2022.&nbsp; Reportedly, the cabinet meeting chaired by Finance Minister Shaukat Tareen also approved conducting the project&#8217;s annual review by professional agencies. The meeting also took several decisions regarding the energy and petroleum sector. Some of the decisions approved are as follows:&nbsp; Issuance of a sovereign guarantee or standby letter of credit (SBLC) of PKR 6.944 billion as an operational Viability Gas Fund for the development of the Sialkot-Kharian Motorway&nbsp; The summary of the Ministry of Energy&#8217;s calculation of the RLNG&hellip;<\/p>\n","protected":false},"author":84,"featured_media":67076,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[20385],"tags":[],"persona":[],"class_list":{"0":"post-83786","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-development-projects","8":"cat-20385-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ECC extends Saindak minng project lease for 15 years- Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The Economic Coordination Commission (ECC) on Wednesday (February 09) extended the lease of the Sandak Copper-Gold Mines project to a Chinese\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/ecc-saindak-minng-lease-15-years.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ECC extends Saindak minng project lease for 15 years- Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The Economic Coordination Commission (ECC) on Wednesday (February 09) extended the lease of the Sandak Copper-Gold Mines project to a Chinese\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/ecc-saindak-minng-lease-15-years.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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