{"id":90749,"date":"2022-12-16T14:35:20","date_gmt":"2022-12-16T09:35:20","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=90749"},"modified":"2022-12-16T16:18:09","modified_gmt":"2022-12-16T11:18:09","slug":"govt-agreement-barrick-gold-reko-diq","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/govt-agreement-barrick-gold-reko-diq.html","title":{"rendered":"Govt signs agreement with Barrick Gold for Reko Diq mining rights"},"content":{"rendered":"\n<p>Islamabad: The federal and Balochistan governments signed an agreement with Canadian firm Barrick Gold to resume mining operations at the Reko Diq Copper Mine site in Balochistan, news sources reported on December 16.\u00a0<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/cabinet-signing-reko-diq-deal.html\" data-type=\"post\" data-id=\"90701\" target=\"_blank\" rel=\"noreferrer noopener\">Cabinet approves signing of Reko Diq deal\u00a0<\/a><\/p>\n\n\n\n<p>The agreement will become effective from December 16 and the company is expected to start work immediately. A USD 6.5 billion fine that was imposed by an international court on the company has now become ineffective. Following the agreement, the Barrick Gold form will get 50% of the proceeds from the mining site while the three state-owned enterprises will get 25%, and the<a href=\"https:\/\/www.zameen.com\/news\/section-144-imposed-balochistan.html\" data-type=\"post\" data-id=\"87280\" target=\"_blank\" rel=\"noreferrer noopener\"> remaining 25% will be distributed between Balochistan<\/a> with a 15% share and the federal government with a 10% share. The share will be distributed among the partners and shareholders on a fully funded and free-carried basis.\u00a0<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/fbr-cvt-relief-reko-diq-company.html\" data-type=\"post\" data-id=\"90678\" target=\"_blank\" rel=\"noreferrer noopener\">FBR extends CVT relief to Reko Diq Mining Company<\/a><\/p>\n\n\n\n<p>It is important to mention here that Reko Diq, one of the largest undeveloped copper-gold projects in the world, is jointly owned by Barrick, three federal state-owned enterprises, and the Balochistan government. Recently, after long proceedings in the Supreme Court, the agreement between the government and Barrick Gold was declared legal.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The federal and Balochistan governments signed an agreement with Canadian firm Barrick Gold to resume mining operations at the Reko Diq Copper Mine site in Balochistan, news sources reported on December 16.\u00a0 Read: Cabinet approves signing of Reko Diq deal\u00a0 The agreement will become effective from December 16 and the company is expected to start work immediately. A USD 6.5 billion fine that was imposed by an international court on the company has now become ineffective. Following the agreement, the Barrick Gold form will get 50% of the proceeds from the mining site while the three state-owned enterprises will get 25%, and the remaining 25% will be distributed between Balochistan with a 15% share and the federal government with a 10% share. The share will be distributed among the partners and shareholders on a fully funded and free-carried basis.\u00a0 Read: FBR extends CVT relief to Reko Diq Mining Company It is important to mention here that Reko Diq, one of the largest undeveloped copper-gold projects in the world, is jointly owned by Barrick, three federal state-owned enterprises, and the Balochistan government. Recently, after long proceedings in the Supreme Court, the agreement between the government and Barrick Gold was declared&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":[15017],"tags":[55473,55474,14927,55472],"persona":[],"class_list":{"0":"post-90749","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-barek-gold","9":"tag-barrick-gold","10":"tag-reko-diq","11":"tag-reko-diq-mining-comany","12":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Govt signs agreement with Barrick Gold for Reko Diq mine\u00a0- Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The federal and Balochistan governments signed an agreement with Canadian firm Barrick Gold to resume mining operations at the Reko Diq Copper\" \/>\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\/govt-agreement-barrick-gold-reko-diq.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Govt signs agreement with Barrick Gold for Reko Diq mine\u00a0- Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The federal and Balochistan governments signed an agreement with Canadian firm Barrick Gold to resume mining operations at the Reko Diq Copper\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/govt-agreement-barrick-gold-reko-diq.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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