RPT-Pakistan Aims to Cancel $3-bln Copper, Gold Venture-Shanghai Metals Market

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RPT-Pakistan Aims to Cancel $3-bln Copper, Gold Venture

Industry News 09:01:53AM Jan 13, 2010 Source:SMM

ISLAMABAD, Jan 12 (Reuters) - A Pakistani provincial government wants to cancel a $3-billion foreign joint-venture copper and gold mining project in the southwestern province of Baluchistan, a provincial mining official said on Tuesday.

The expected cancellation was apparently aimed at easing anger in Pakistan's biggest but poorest province over outsiders' exploitation of its natural resources.

Tethyan Copper Co. Ltd., a joint venture between Canada's Barrick Gold and Chile's Antofagasta Plc, one of the world's largest copper miners, had been granted an exploration license for the Reko Diq site in the southwestern province of Baluchistan.
 

RPT-Pakistan Aims to Cancel $3-bln Copper, Gold Venture

Industry News 09:01:53AM Jan 13, 2010 Source:SMM

ISLAMABAD, Jan 12 (Reuters) - A Pakistani provincial government wants to cancel a $3-billion foreign joint-venture copper and gold mining project in the southwestern province of Baluchistan, a provincial mining official said on Tuesday.

The expected cancellation was apparently aimed at easing anger in Pakistan's biggest but poorest province over outsiders' exploitation of its natural resources.

Tethyan Copper Co. Ltd., a joint venture between Canada's Barrick Gold and Chile's Antofagasta Plc, one of the world's largest copper miners, had been granted an exploration license for the Reko Diq site in the southwestern province of Baluchistan.