Governor Balochistan Nawab Zulfiqar Ali Magsi chaired a high-level meeting during which Dr Samar Mubarik Mund gave briefing about the excavation work on the Balochistan Reko Diq Copper Project.
The meeting was informed that in 1993, Pakistan inked mining agreement of Reko Diq with the Australian Tethyan Copper Company that now stands null and void after the provincial government won the case in International and apex court of the country.
Provincial government would execute the copper project on its own as it gets clean chit from the Supreme Court.
As first phase, excavation work would be carried out on first reserves that contain 2.2 billion of tons of copper and gold worth 104 billion dollar, he noted.
Under the project, 15 thousands of copper and gold reserves in raw form would be extracted annually enabling provincial government to get 321 million dollar per annum.
The meeting was further informed that in the provincial PSDP, Rs 1400 million has been allocated for the project while Rs 1980 million has been earmarked for the provision of water in the Reko Diq area.
Governor Balochistan on the occasion directed the authorities concerned to immediately release funds so that work on the project could be started without any delay. He also issued directives for making appointments of local people in the project.
Foolproof security measures should be put in place besides establishing office at Quetta and Reko Dik instead of making Islamabad, he further advised.