Pakistan's copper exports to China soared in recent years

Published: Apr 1, 2020 12:03

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SMM4, January 1-Pakistan's copper exports to China have quadrupled in recent years.

According to a report by the China Economic Network, the increase in exports of copper and copper products has greatly contributed to the development of the country's industry.

Three years ago, Pakistan's copper exports to China totaled $106 million, but by 2019, Pakistan's copper exports to China had soared to $550 million.

The Pakistani government paid $5.902 billion in compensation in 2011 for refusing to grant a mining license to Tethys Copper, a joint venture between Antofagasta (Antofagasta) and Barrick Gold Company (Barrick Gold), (Tethyan Copper Company) Reykdik (Reko Diq) Copper Gold Mine.

The relevant reports show that Reko Diq is one of the largest undeveloped copper-gold deposits in the world, with a total mineral resources of 5.9 billion tons of ore, an average copper grade of 0.41% and a gold grade of 0.22g / ton. According to the relevant data, the economically recoverable part of the deposit is calculated as 2.2 billion tons of ore, with an average copper grade of 0.53% and a gold grade of 0.30g / ton, with an estimated annual output of 600000 tons of copper-gold concentrate, resulting in the production of 200000 tons of copper metal and 250000 ounces of gold; its potential mine life is more than 50 years.

The Rekdiq mining rights dispute has aroused great concern in Pakistan, and the dispute has not yet been resolved. China Metallurgical expects Pakistan's copper exports to reach $10 billion a year if the dispute is resolved.

Badar u Zaman, Commercial Counsellor of the Pakistani Embassy in China, said he was keen to increase copper exports to China. In addition, he stressed that in addition to China Metallurgical Group, other Chinese mining companies will also make profits. In addition to the Saindak copper mine and the Reko Diq copper mine, the Chitral area in northern Pakistan is also rich in mineral reserves, but most of the mines have not been put into production because of a lack of technology.

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