Pakistan government gets new offer over development of Reko Diq gold reserves

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Pakistan government gets new offer over development of Reko Diq gold reserves

ISLAMABAD - The National Resources Private Limited (NRL) – a local joint venture company – has proposed to the government that it may be allowed to develop the Tanjeel reserves first and then the vast Reko Diq copper-cum-gold reserves, Dawn News reported.

The JV company has submitted all necessary documents and feasibility studies to the Balochistan Mineral Exploration Company (BMEC) on an unsolicited basis to be given the task of developing the said reserves.

BMEC is itself a joint venture of the Balochistan government (90 percent stake), the Federal Government (10 percent stake), and the concession holder of EL199 (consisting of Reko Diq & Tanjeel reserves).

On the other hand, NRL is a joint venture between the Arif Habib Equity (Private) Limited, Mari Petroleum Company Limited, Liberty Mills Limited, Reliance Commodities (Private) Limited (Fatima group), Y.B. Pakistan Limited (Lucky group), and South Western Mining (Private) Limited, the news report informed.