Published On:January 17 2008
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Reko Diq project: to strengthen National Economy

Islamabad: Caretaker Petroleum and Natural Resources Minister Ahsanullah Khan said on Wednesday that annual production of 250,000 tons copper from Reko Diq project would not only bring Pakistan on the world copper map but also help strengthen the national economy.

Talking to Marcelo Awad, president, Antofagasta Copper Company, Chile, along with Hugh James, CEO, Tethyan Copper Company, Australia, here, he said that concrete steps are being taken to ensure availability of infrastructure pre-requisite for the successful exploration. He said the government was keen to develop the mineral sector on modern lines and providing attractive package of incentives to the investors to boost the mineral development activities in the country. Marcelo Awad briefed the minister about the updated progress on Reko Diq Copper Project in Chaghi district, Balochistan, being undertaken by the Antofagasta joint venture.

He informed the minister that the Reko Diq Project involves multi-billion dollars investment and has two billion tonnes of copper deposits. Marcelo Awad said the company has so far invested $46 million on the development of the project and efforts were underway for the speedy commissioning of this mega copper project.

The minister said the government would welcome Chilean investors to participate in the mineral development activities in Pakistan for the mutual advantage.Petroleum Secretary Farrakh Qayyum, Director General (Minerals) Irshad Khokhar, and other members of the Chilean delegation were also present during the meeting.

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