BEIJING, Dec 20: Saindak copper-gold project in Balochistan is likely to start production in May next year.

China Metallurgical Construction Company (MCC), which is engaged in developing the project, has decided to enhance its infrastructure network at the site to ensure timely production.

The MCC’s sources told APP in Beijing that the annual copper production will be about 20,000 tons. It is hoped that the production would reach 250,000 tons within five years.

The Company is investing $350 million. By exploiting reserves in Balochistan, Pakistan will be one of the major copper producers.

According to an international survey, Saindak copper was of excellent quality. It has been estimated that the project will yield an average production of 15,810 tons of copper, 1.47 tons of gold and 2.76 tons of silver for 19 years and generate annual revenue of about $65 million.

Besides this, it will create 1,288 direct and 11,000 indirect job opportunities.

The Saindak project in Balochistan has been restarted by the MCC on March 22,

2002.

It may be pointed that the project had started trial production in November 1995 and continued until January 1996 and in just 45 days produced 1,545 tons of blister copper and 10,000 tons of semi-finished products, which were sold in the international market at a price of Rs280 million.

However, the work could not be carried on after January 1996 due to lack of funds. So far, Rs14 billion have been spent on the project.

Pakistan and MCC China have also signed a Memorandum of Understanding on March 22, 2002 for the Duddhar Lead Zinc Project in Balochistan.

Under the agreement, MCC will invest $80 million for the exploitation and development of lead zinc deposits that are estimated at over 14 million tons.—APP