The Supreme Court was informed on Wednesday by the attorney for the Balochistan government that the Reko Dik project will provide $32 billion to the province over a 47-year period.
After hearing a presidential referral on the issue, Salahuddin Ahmed further informed the five-judge panel led by Chief Justice of Pakistan (CJP) Umar Ata Bandial that 25% of the profits from the gold mining project belonged to the provincial government.
A holding and offshore firm from Balochistan will control 15% of this 25% share, he added. In addition, Salahuddin informed the court that Balochistan’s government will get 25% capital, 5% in royalties, as well as opportunities for corporate social responsibility and employment.
CJP Bandial enquired as to the project’s completion date. The lawyer responded that it would take 2.5 years to prepare the project’s feasibility studies.
The Reko Diq project would then begin in the next five years, he continued. The attorney told the judge that firms from China, Japan, and Russia had also inquired in the Reko Diq project. He did, however, add that these businesses were unwilling to pay Pakistan’s $9 billion charge.
Justice Ijazul Ahsan wanted to know what charges Pakistan was facing at the International Criminal Court and the International Centre for Dispute Resolution. Salahuuddin said that the Pakistani government was being sued by the International Center for Dispute Resolution for contract breach. He continued by saying that the Balochistan administration was accused of contract breach before the International Criminal Court.
The impacted firm will file a lawsuit against Pakistan if it did not reach a deal by December 15th, the lawyer said.
In addition to gold and copper, Justice Yahya Afridi asked about the leasing of additional minerals that would be mined from Reqo Dik.