ISLAMABAD: Antofagasta Copper Company of Chile Marcelo Awad has informed the government that the Reko Diq Project in Chaghai district of Balochistan has two billion tons of copper deposits.
President of Antofagasta Copper Company (ACC) of Chile Marcelo Awad, who along with Chief Executive Officer of Tethyan Copper Company of Australia Hugh James called on the Federal Minister for Petroleum and Natural Resources Ahsanullah Khan here Wednesday and briefed him about the copper reserves. They exchanged views on investment potential in the mineral sector with the Federal Minister.
During the meeting, the President of Antofagasta Company briefed the Minister about the updated progress on Reko Diq Copper Project in Chaghai District of Balochistan Province being undertaken by the Antofagasta Joint Venture. Marcelo Awad informed the Minister that the Reko Diq Project involves multi-billion dollars investment and has two billion tonnes of copper deposits. He said that the company had so far invested $46 million on the development of the project and efforts were underway for the speedy commissioning of this mega copper project.
The Minister said that the government was keen to develop the mineral sector on modern lines and providing attractive package of incentives to the investors to boost mineral development activities in the country. He said the government was taking concrete steps to ensure availability of infrastructure pre-requisite for the successful mineral exploration.
The Minister said that annual production of 250,000 tonnes of copper from Reko Diq {BALOCHISTAN}project would not only bring Pakistan on the world copper map but also help strengthen its economy.
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