QUETTA: World’s fifth largest reserves of gold and copper were discovered in Chaghi area.

According to Voice of America (VoA), Maqbool Ahmed, Director General Provincial Department of Mineralogy told two multinationals Canadian and Chilean firms who were issued licenses ten years earlier for exploration of gold in the Rekodik area. They have completed the exploration work and have chalked out a project for the extraction of gold and copper. In the preliminary stage the two companies will invest a billion US dollars in the project.

According to Maqbool Ahmed 0.2 million tons of copper and 0.4 million ounce gold will be produced annually through the said project. This is the fifth biggest reserve in world that will turn the fortune of the area.

The Balochistan government will get a share of 25%. With the start of the project employment opportunity will be provided to 3000 youth of the province.

According to Maqbool Ahmed there are gold reserves in Zhob and Lasbela districts of the province and 9 multinationals have been issued licenses for their exploration.