Biafo Industries Limited has entered into an agreement with Reko Diq Mining Company (RDMC) to provide blasting services for the pre-mining infrastructure development at the Reko Diq site.
The company shared this development with the Pakistan Stock Exchange (PSX) through a notice on Monday.
The contract includes the supply of explosives and civil blasting services to facilitate the early-stage groundwork at the mining site.
“We are pleased to inform you that the Company has signed a contract with the Reko Diq Mining Company (Private) Limited (RDMC) for Blasting Services (Civil). This is a contract for the supply of explosives and related civil blasting services for the pre-mining initial infrastructure development at the Reko Diq mining site,” read the notice Biafo Industries sent to the PSX.
One of the largest undeveloped copper-gold projects in the world, Reko Diq is owned 50% by Canadian company Barrick Gold, 25% by three federal state-owned enterprises, 25% by the Government of Balochistan of which 15% is on a fully funded basis and 10% is on a free carried basis.
Biafo Industries is principally engaged in the manufacturing of commercial explosives and blasting accessories including detonators and other materials. It was incorporated in Pakistan on September 07, 1988 as a public limited company under the Companies Ordinance, 1984 (now the Companies Act, 2017). The company started its commercial production on July 01, 1994.
