Pakistan will no longer have to beg, got huge gold treasure; Will be rich in a few years

Obnews Desk: Pakistan, which has been struggling with economic crisis for a long time, has got a big relief. Geological Survey of Pakistan (GSP) has discovered a treasure of 32.6 metric tons of gold. The estimated value of this gold is said to be around 600 billion Pakistani rupees. This discovery has come as a ray of hope for Pakistan.

Let us tell you that Pakistan often stands in front of IMF and Arab countries for financial help. However, Pakistan is likely to get a big relief after going through these bad times.

Large reserves of gold in Balochistan

The Reko Dik mine in the Balochistan province of Pakistan is known to be the 5th largest gold deposit in the world. A large amount of gold and copper is present in this mine. Experts believe that if used properly, it can change the economic condition of Pakistan in the next three years.

The work of extracting gold from Reco Dick mine has also started, which is expected to strengthen the country economically. Even before this, another big reserve was found near the Indus River. This reserve can become an opportunity for major economic reforms for Pakistan.

The world's attention fell on the mine

Big countries around the world are eyeing a big mine of Pakistan. A Canadian company has already signed an agreement with the Pakistan government regarding this mine. Now Saudi Arabia is also showing interest in this mine and is talking to the Pakistani government for this. This mine is considered economically important for Pakistan and is much discussed at the international level.

Treasure will be found in Reco Dick for 40 years

According to the information, Reko Dick mine has the 5th largest copper and gold reserves in the world. There are estimated to be 5.9 billion tonnes of ore grading 0.41% copper and 41.5 million ounces of gold. These treasures can be extracted from the mine for the next 40 years.

First production will happen by 2028

Canadian company Barrick Gold is working on this mine. The company says first production from the mine will begin by 2028. There is a plan to extract about 90 million tons of ore every year.

Saudi hopes to stake in Reko Dick mine

There may be an agreement between Saudi Arabia and Pakistan to extract gold and copper from Reko Dik mine of Balochistan. Saudi Arabia hopes to get 15% stake in this mine.

Talks on this project between the two countries started last year. According to Pakistani media reports, the Pakistani Cabinet has approved the sale of 15% stake to Saudi Arabia for $540 million. Additionally, the Saudi Fund for Development will provide $150 million for mineral development in Balochistan. This step regarding the project of extracting gold and copper from this mine will strengthen the economic relations between the two countries.

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However, Pakistan's Petroleum Minister Musadiq Malik said that an important petroleum deal has not been approved yet. He clarified that a decision on this deal is pending.

Canadian company owns half of the mine

A 50% stake in a gold mine in Pakistan is owned by Canada's Barrick Gold Company, one of the largest gold mining companies in the world. 25% share of this mine is owned by three government companies of Pakistan and the remaining 25% share is with the Balochistan government.

If the agreement with Saudi Arabia is finalized, the Pakistan government's share will reduce to just 10%, which will give it less benefit.