As of 31 July, the National Disaster Management Authority (NDMA) reported that the floods have resulted in 434 deaths (including 175 children and 73 women) and 605 people have been injured since 1st July 2022. More than 36,469 households have been affected, of which 60% are in Balochistan. More than 29,067 houses have been partially damaged, and another 7,402 houses have been fully damaged. In addition, around 800 schools (600 in Balochistan alone), 71 bridges, and 977 km of road sections have been affected across the country.
Canada stands with the people of Pakistan during the floods.
Barrick Gold Corporation a canadian company is contributing $150,000 to Balochistan’s Provincial Disaster Management Authority (PDMA) to support its relief efforts in the wake of unprecedented floods in the region. Remote communities in the province were hardest hit by the heavy monsoon rains which killed more than 500 people in Pakistan.
In a phone call with the province’s chief minister, Abdul Quddus Bizenjo, Barrick president and chief executive Mark Bristow expressed the company’s condolences on the loss of life and suffering inflicted on the people of Balochistan.
He said the contribution to the emergency fund was a demonstration of the spirit of partnership in which Barrick, Balochistan and Pakistan had embarked on the reconstitution and restart of the Reko Diq project, which holds one of the world’s largest undeveloped copper-gold deposits. Balochistan will have a 25% fully funded share in the project (10% free carried and 15% to be funded by the federal government). Pakistani state-owned enterprises will hold another 25% and Barrick, with 50%, will operate the mine.
“Balochistan will benefit enormously from its stake in the mine. Even before construction starts, once the legalisation process has been completed and the project reconstituted, we will start implementing social development programs representing an estimated investment of $70 million over the construction period. In addition, Reko Diq will advance royalties of up to $5 million in the first year, up to $7.5 million in the second and up to $10 million thereafter until construction starts,” Bristow said.
During peak construction the project is expected to employ approximately 7,500 people and once in production it will create 4,000 full-time jobs. Its policy of local procurement will stimulate the development of a robust local economy.
“Reko Diq has an estimated life of at least 40 years, so it will be generating substantial benefits for its Balochistan stakeholders for generations to come,” Bristow said.
