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Recodec: The Secret of Billions of Dollars

It seems Pakistan and Tethyan Copper Company (TCC) of Balochistan conflict on RecoDec mine is now heading out of court Settlement. The Sup...

It seems Pakistan and Tethyan Copper Company (TCC) of Balochistan conflict on RecoDec mine is now heading out of court Settlement. The Supreme Court issued a ruling in 2013 by the Provincial Government and the Australian mining company BHP enshrined in 1993 Chagai Hills Exploration Joint Venture Agreement (CHEJVA) was also banned.

Recodec The Secret of Billions of Dollars


BHP a little-known company 's shares were given to TCC , which manages the mine operated until 2008 before the start of the case .

Court proceedings continued , and the investment dispute resolution TCC International Centre for Settlement of Investment dyspyuts Organisation ( ICS IDS) knocked on the door and the first accused of breach of contract levied . But also that the CS ID refused to recognize the claims of ownership .

The company 's investment arguments for compensation , which is equivalent to approximately 40 million dollars , and that the company carry the case to judgment in its favor has been successful . But at the same time feel that it wants the company to agree to a settlement , provided that the project will be profitable .


Insiders say the case mass is being handled by the provincial government , the federal government out of court settlement is being urged . Opposition parliamentarians from the mines to the TCC to the accused , the Chief Minister Balochistan Dr Abdul Malik Baloch Court denies it , saying he would not sell a stone .

Rico dick then what? District Chagai nuclear explosion, a small town famous for ? When BHP mines discovered Rico Dick , since disputes are under . In 1993, the then chief minister of Balochistan CHEJVA signed the Chagai BHP had been given the rights to explore the whole area . It was the start of administrative decisions , which have damaged the interests of Pakistan .

This agreement BHP 33 million acres in the next 56 years is entitled to 75% of all the discoveries made ​​, and the provincial government on the basis of joint investment was only 25 percent , and 2 percent royalties .

Between 1993 and 1997. The search identified 14 potential areas in which a total of 48 locations had to be excavated . The whole area was named Rico Dick Complex .

BHP has a license to explore for minerals , and here on the site to dig deep in EL-5 gold and copper deposits were discovered .

Open robbery?

Pakistan Muslim League-Nawaz , a former lawmaker Naeem Awan was a moment when the global mining community underscored Rico dick , and he quickly but quietly began to get their interest . Naeem Awan petitioner 's the first time this issue was brought to the notice of the Supreme Court .

Naeem Awan said that being since then , they have nothing other than robbery , while those who should protect the interests of Pakistan , they are engaged in stealing glances .

Geological literature and interviews with experts indicate that the Chagai district called Tethyan mygmytk arc is part of a strip , which spans from Europe to Mongolia , thousands of kilometers . This strip is famous for rare minerals , including part of Pakistan Chagai is down to North Waziristan .

Different geological bodies , including the US Geological Survey estimated the value of the block is between 1 to 3 trillion dollars . According to some geologists estimate is very low , because in this way they do not include new areas such as minerals that can be used in nano- technology and semiconductor physics .

Some questions

This whole situation , and keeping in close syndk mines that it was poised to be discovered gold in Chagai district . Then why the 25/75 deal syndk before the infamous deal with Chinese company was 50/50 ? Also opt for a contract Moeen Qureshi , acting supervisor was set up , by 2008, without any question was how to continue ? It should also be asked why no independent evaluation of reserves Rico Dick has not been made .

It appears also that the TCC is hiding something .

According to TCC website Rico Dick ' economic viability of mining , 2.2 billion tons , which is an average of 0.53% copper and 0.3 grams per tonne gold content . " This means that one million tonnes of copper and one million ounces of gold have been able to go out .

But TCC of geologists and research , which was published by jyulajsts Society in 2008 , according to the copper and gold deposits Rico Dick are the highest quality , and an estimated 80 million tons of copper and 3 million to 20 million ounces of contained gold . This means that the TCC 80 million tons of copper and gold on its website an estimated 90 million ounces less telling .

But it is also the world's tenth largest evaluate the inferior level of the ear is enough to bring . Experts examine a comprehensive list of the world's big ears at least the fifth is bringing .

What is this ? The answer is that the share of BHP 's takeover was Mincor Resources NL , which is one of the world's biggest mining companies , and the TCC set as your face . Gold Barack Obama after the company was acquired by a Canadian company , which is said about the real power behind the TCC , and to share in the risk of the company Antofagasta Chile had brought.

Recent estimates , which are considered the most conservative estimate , according to Dick Rico revenue of $ 40 billion during the year must be between 260 to 240 . Pakistan 's share in the national GDP growth would lead to a half billion dollars .

But TCC 's offer was $ 54 billion in 30 years , which included a clause that all raw gold and copper , ponds , would be to take out Pakistan .

Considering this background , it gives rise to many doubts that led why Pakistan is in a hurry to sell the mines , the poor economic situation that Pakistan can play a key role in handling .


Source: 23 Jan 2015 This article appeared in Dawn .


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