$260 billion gold mines going for a song, behind closed doors

[Sa1eem]

Re: $260 billion gold mines going for a song, behind closed doors

@Ali_Syed

This is what the article says about NZ’s tenure: “The provincial government had first signed the contract for Reko Diq exploration area with the BHP Minerals International Exploration Inc. in July 1993 and established a joint venture with the respective interests of the province– 25 per cent and BHP Billiton – 75 per cent by virtue of a Deed of Waiver and Consent June 23, 2000.”

This is the daily times link "The original contract for Reko Diq exploration was signed in 1993 with BHP Minerals, which established a joint venture with the local government, leading to a deed of waiver and consent signed in 2000. TCC, then a subsidiary of Australian Mincor Resources, had an alliance with BHP. Antofagasta and Barrick Gold took over 100% of TCC in 2006. "

Its no surprise that the 25-75 % rule was introduced by our own dear musharraf’s govt.

Bhai, aap ko angreeji may kuch likha hua samjh may aata hay … or you are promoting lies thinking that people would not understand?

I know that the way article is written, Pakistani style in Pakistani English, it could be confusing, though for those with little bit of intelligence, what is written is clear. Please read again, think what is written and try to understand:

“The provincial government had first signed the contract for Reko Diq exploration area with the BHP Minerals International Exploration Inc. in July 1993 **and established a joint venture with the respective interests of the province– 25 per cent and BHP Billiton – 75 per cent by virtue of a Deed of Waiver and Consent June 23, 2000”

Under this deed, the GOP provided its consent to the grant of rights to TCC and to any transfers to TCC and agreed to waive all of its pre-emptive rights under the agreement in relation to such transfers.

I believe that it would be clear to anyone that, what it is written is:

The provincial government signed the contract for Reko Diq exploration area with the BHP Minerals International Exploration Inc. in July 1993 and established a joint venture with the respective interests of the province– 25 per cent and BHP Billiton – 75 per cent.

By virtue of a Deed of Waiver and Consent June 23, 2000, GOP provided its consent to ‘BHP’ that they could grant or transfer the rights (of exploration) to TCC and agree to waive all of its pre-emptive rights under the agreement in relation to such transfers.

Note: ‘and establish’ in article shows that share was decided at time of exploration agreement, and that is normal too in any agreement.

Anyhow, if your understanding is not so good then you should read other articles and what I have written would become clear.