So, you can see that agreement was signed between ‘Baluchistan government and BHP’ in July 1993, where it was established that Baluchistan government would have 25 percent share and BHP would have 75 percent share. In 2000 government of Pakistan gave consent to BHP that they can transfer whatever rights they have to TCC. TCC has nothing to do with Baluchistan government or government of Pakistan, but received 75 percent interest from BHP, because that is what was given to BHP in July 1993.
Re: $260 billion gold mines going for a song, behind closed doors
Ali_Syed Bhai: You want more references … and in much clear English? … So, here it is … in black and white, where I believe I do not even have to explain anything. Just highlight to let you know the facts.
I hope above reference would convince you. Anyhow, if above reference is still difficult to understand than let me know and I would provide you more references that would show that it was not Musharraf government but Nawaz Thug '‘demoncrazy’ government of 1993 that did all the ‘mischief’ in the deal where Baluchistan government got 25 percent and BHP got 75 percent.
Re: $260 billion gold mines going for a song, behind closed doors
I think you better watch your language. I know you are die hard enemy of PPP but it does not mean to insult any one for that stupid reason.
As regard this news item, how far is it true do you have any idea? Just believing in this **y news paper and start whining about it only shows how much intellegence one has. It is not Zardari only there are other stakeholders are also involved. The provencial government and the PM Gilani and perhaps many more. Keeping in view "madar pidar azad news media" it is very difficult for PM or President or any other high official to involve in any kind of back door deals. You should get this into your biased and prujdice thinking. If you think Gilani is also corrupt and will involved in shady deals you must get your brain examined. **
1st makeup ur mind!!!
anyway i have already said in post # 26
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*I am 100% sure none of the ppp jiyala would provide direct answer.. yes they'll whine about it and curse the whole world... . *
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Re: $260 billion gold mines going for a song, behind closed doors
In my post, I forgot to add an another information and that is, why Riko Dig became famous during Musharraf era in late 2006 and everyone started talking about Riko Dig?
Reason is that, even though exploration licence was issued in 1993 with agreement that Baluchistan would hold 25 percent stake and BHP would hold 75 percent stake in exploration deal, little work was done and nothing was found, because Pakistan government had little control over Baluchistan law and order situation.
Anyhow, during Musharraf period law and order in Baluchistan became somewhat in control and government writ established, thus exploration activities by foreign companies increased. This resulted in Gold/Copper find in around 2006 at Riko Dig and this mine hit the news.
Re: $260 billion gold mines going for a song, behind closed doors
The original deal was signed in 1993 (thats true july 1993, and in the same month nawaz sharif was sent home)...anyways, even if it was done during nawaz sharif's tenure doesnt make that right...BHP billiton has already violated the deal by reselling the shares to some other company without taking the balochistan government into confidence, and now the government has the option to re negotiate on its own terms...instead of 25-75 %, 50-50 % deal would be better...
Re: $260 billion gold mines going for a song, behind closed doors
The original deal was signed in 1993 (thats true july 1993, and in the same month nawaz sharif was sent home)...anyways, even if it was done during nawaz sharif's tenure doesnt make that right...BHP billiton has already violated the deal by reselling the shares to some other company without taking the balochistan government into confidence, and now the government has the option to re negotiate on its own terms...instead of 25-75 %, 50-50 % deal would be better...
I have not read agreement between Baluchistan govt and BHP, can you share with us which clause they violated by reselling shares to some other company?
Re: $260 billion gold mines going for a song, behind closed doors
I will try to find the agreement, but as to what i have read regarding this issue the agreement was signed between balochistan government and BHP in 1993, the balochistan government was the minority partner (25 %), but BHP without consulting balochistan sold the shares to barrick and angofasta, that doesnt make any sense as balochistan govt should have been involved in that decision being the share holder of the mine
Re: $260 billion gold mines going for a song, behind closed doors
^ if they had sold the rights of mining alone then that should've been in consultation with the Baluchistan govt but here we are talking about the company's share itself being sold to other entity, for this they have to have a special provision in the agreement, I will wait to see that provision from you.
Re: $260 billion gold mines going for a song, behind closed doors
^ if they had sold the rights of mining alone then that should've been in consultation with the Baluchistan govt but here we are talking about the company's share itself being sold to other entity, for this they have to have a special provision in the agreement, I will wait to see that provision from you.
Pakistan is in need of a revolution to remove the corruption which is everywhere that is only way we will fix it, changing one ruler for another idiot every 3 or 4 years will just bring same problems.
We have billions worth of gold, gas, minerals if that is the case we should be able very easy to finish out debts and build a powerful state.
Re: $260 billion gold mines going for a song, behind closed doors
Pakistan is sitting on reserves of rare metals worth much more than the gold and copper being discussed here. Pegmatite ores containing Lithium and other rare metals like Tantalum etc are available in significant quantities. These deposits also exist across the border in India and in Afghanistan which probably has the biggest reserves of all. As far as I know, neither Pakistan nor India has the technology to extract these metals even from the ores if they mine them.
Any government that is keen on getting the maximum benefit for the country - this is true of both Pakistan AND India - would do well to auction the rights to mine these metals to the highest bidder. Additionally, they could ask the country that gets the bids to do the extraction of the metals as the case may be in Pakistan itself - this would give more jobs to local people and bring even more money to the country. There is a lot of positive potential if someone wants to tap it in a scientific manner and do the best with the natural resources that belong to everyone in the country - the Arabs do this with their oil. Follow the same example.
