In a landmark agreement, Barrick Gold Corporation has agreed to pay Pakistan’s share in the Reko Diq project in Pakistani Rupees. The deal comes as a result of extensive negotiations between the two parties and marks a significant development in the mining sector.
The Reko Diq project, located in Balochistan, Pakistan, is a highly lucrative mining venture that encompasses one of the world’s largest untapped gold and copper reserves. However, disputes over ownership and profit-sharing have long plagued the project, leading to protracted legal battles.
With Barrick Gold’s acceptance of paying Pakistan’s share in Rupees, a major obstacle has been overcome. This move is expected to bolster Pakistan’s economy, providing a boost to its foreign exchange reserves and encouraging investment in the mining sector.
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