QUETTA, Aug 30 Tethyan Copper Company Pakistan (Pvt) Limited has completed the feasibility study report on Reko Diq Copper-cum-Gold project and handed it over to the Balochistan government.
TCC Chief Executive Gerhard Von Borries delivered the report to concerned authorities of Provincial Mines and Mineral Department, Government of Balochistan here on Monday, sources said.
Mr Borries said that company experts had completed an important phase of the important project that would prove a positive achievement in connection with this important project.
“We are very happy that the project has reached this important milestone. Based on extensive world class engineering, technical and financial studies by TCC, the viability of Reko Diq project has been established and we are looking forward to work with our partner, the Government of Balochistan on taking this project towards the construction stage,” observed the TCC CEO.
A feasibility study of a mining project determines whether the proven mineral resource is technically and financially viable and is considered an important landmark in mining project development phase.
According to the feasibility report, the initial mine development investment for Reko Diq project is estimated at $3.3 billion which includes development of basic infrastructure like power, water and concentrate pipelines, roads, and port development. The project will create 10,000 construction jobs and 2,500 permanent jobs when the commercial operations start.
Significant opportunities will also be created for local suppliers and contractors for providing services and goods to support mine operations. The project offers state of the art transfer of mining and beneficiation technology to Balochistan in addition to generating significant revenues in form of taxes, royalties and profit sharing.
Gerhard Von Borries also confirmed that the Environment and Social Impact Assessment (ESIA) of the Reko Diq project was being finalised and would be presented soon to the competent authority.
“We are committed to this project and the way it has been designed, it will be a catalyst of social and economic development for Balochistan,” he added.
