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Therekodiqminingproject 180414203846
Therekodiqminingproject 180414203846
BHP
TCC
Barrick of
Antofagasta
Gold
INTRODUCTION
• Chagai Hills Exploration Joint Venture agreement, signed between the Balochistan Government and
Broken Hill Properties Minerals (BHPM) in 1993.
• The agreement provided for exploration on an area in District, Chagai, measuring 3,347,226 acres (13,546
Square kilometers)
• Promises to build and operate a world class copper-gold open-pit mine at Reko Diq in the northwest
district Chagai of Balochistan province.
• Agreement envisaged exploration by BHPM within a period of 6 years at its own cost over the Exploration
Area, followed by preparation of a Feasibility Study to undertake mining of the proven mineral resource.
• According to the JVA, BHPM would have earned 75% interest on satisfactory completion of Exploration
Program while BDA had 25% share in the JV, both in cost and profit.
FEASIBILITY REPORT IMPORTANT POINTS
• Project need the Capital investment of about US$ 3.3 billion to US$ 5.0 billion .
• In a feasibility report submitted to the Balochistan government, TCC projected a turnover of over $60 billion
for the gold and copper project over a span of 56 years.
• The mine has estimated reserves of 11.65 million tons of copper and 21.18 million ounces of gold.