"Historic success" saved Pakistan from being blacklisted: Azhar

Khalid Umar Malik
22 Mar 2022, 12:55 GMT+10

The government claimed that it had saved the country from an $11 billion fine in the Reko Diq case by resurrecting a project to extract massive gold and copper reserves from the Balochistan site.
The federal and Balochistan governments and Antofagasta PLC and Barrick Gold Corporation have agreed in principle on a framework for resurrecting the Reko Diq project and a path for Ant ...
Prime Minister Imran Khan witnessed the signing ceremony.

ISLAMABAD, Pakistan - The government claimed that it had saved the country from an $11 billion fine in the Reko Diq case by resurrecting a project to extract massive gold and copper reserves from the Balochistan site.

The federal and Balochistan governments and Antofagasta PLC and Barrick Gold Corporation have agreed in principle on a framework for resurrecting the Reko Diq project and a path for Antofagasta to exit it.

Prime Minister Imran Khan witnessed the signing ceremony. Speaking at the event, he expressed his hope that the investment would start a wave of large-scale investments in Balochistan to improve the province's citizens' quality of life.

Meanwhile, the Balochistan cabinet approved the agreement in a special session, calling it a game-changer for the province.

Energy Minister Hammad Azhar described the agreement as a "historic day" because it avoided an $11 billion penalty and provided the country with a new opportunity. By implementing 32 of the FATF's 35 conditions, he said the "historic success" had saved the country from being blacklisted.

Following the signing of the agreement, Barrick Gold President Mark Bristow met with Balochistan Chief Minister Qudoos Bizenjo.

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