Reko Diq mining deal 'favourable' for Balochistan, SC told.

ISLAMABAD -- The counsel for Balochistan told the Supreme Court on Wednesday that the reconstituted Reko Diq joint venture agreement was an exceptionally good deal for the province, which would stand to reap substantial benefit from the project.

'Not only will the province get 25 per cent share in the project, but also 5pc royalty, besides uplift project and economic development through corporate social responsibility with zero risk and negligible cost,' emphasised Advocate Salahuddin Ahmed before a five-judge SC bench that had taken up a presidential reference.

In addition, he said, Balochistan will receive $32 billion during 47 years of mining life in the area.

Justice Yahya Afridi, a member of the bench, asked if there was any provision in case other precious minerals were discovered during excavation, or would the company only be restricted to copper and gold.

Counsel says Barrick Gold enjoys exclusive rights in case of discovery of other minerals

The counsel replied that Barrick Gold Company (BGC) would enjoy exclusive rights in case of the discovery of other minerals.

'So essentially it is an open-ended deal,' Justice Ijazul Ahsan said.

Justice Jamal Mandokhel wondered what would happen if someone challenged this exclusivity in the future.

'That is why we are before the Supreme Court,' the counsel said, explaining that in view of the regional security...