Local firm submits proposal for developing Reko diq

ISLAMABAD: Balochistan Mineral Exploration Company (BMEC) – a joint venture of the government of Balochistan and government of Pakistan and the concession holder of EL199 consisting of Reko diq and Tanjeel reserves – has received a proposal from the National Resources Private Limited (NRL) on unsolicited basis to develop and implement the Tanjeel reserves as a starter project, followed by development of the vast Reko diq area reserves.

NRL is a domestic joint venture company of Arif Habib Equity Pvt. Ltd., Mari Petroleum Company Ltd., Liberty Mills Ltd., Reliance Commodities Pvt. Ltd. (Fatima group), Y.B. Pakistan Ltd. (Lucky Group) and South Western Mining Pvt. Ltd.

According to a statement issued by BMEC on Sunday, the development would initiate a new era for the progress of the province.

In an introductory presentation to the BMEC Board, NRL summarily highlighted the salient features of the submitted proposal.

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NRL Chief Executive Officer Shamsuddin A. Shaikh commented, “The province of Balochistan has a significant role to play in the development of Pakistan and its economy. Through development of Tanjeel and Reko diq under Public Private Partnership, NRL is hopeful that it can usher in a new era for the progress of this region through this initiative.”

He further stated that “the project will have a complete social uplift package associated with it for the entire area, in addition to the development of the mineral cadaster to aid the development of the mining sector.”

He also requested the BMEC Board to permit NRL to carry out further investigations of the mineral resources and the energy and water resources, which would be required for the expeditious development of the proposed project.

BMEC Board Chairman and Balochistan Additional Chief Secretary Development, Hafiz Abdul Basit, appreciated the initiative and assured representatives of NRL that the matter will be reviewed by the transaction advisor and dealt with in accordance with the laws, in the best interest of the province and the country.

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