Reko Diq gold/copper mines' contracts: Supreme Court issues notice to Federation, Balochistan government, concerned company

The Supreme Court on Thursday issued notices for November 24 to the Federation, the Balochistan government and the concerned company in a petition against giving away $260 billion contracts for exploration of gold and copper mines at Reko Diq in Balochistan to foreign companies at throwaway prices.
A three-member bench headed by Chief Justice Iftikhar Muhammad Chaudhry issued notices in a constitutional petition filed by Tariq Asad advocate against giving away contracts of gold and copper mines at Reko Diq in Balochistan to foreign companies at throwaway prices. Tariq Asad advocate had pleaded the Court to direct the Federation not to sell the minerals of gold and copper.
He contended before the court that Reko Diq gold mine had huge reserves of uranium. He prayed the court that the whole record of deal, execution and agreement, if any, be presented before the court for making the judgement. He further prayed the court to direct the respondents to refrain from issuing the mining licence arbitrarily in an unlawful manner without consultation of the parliament and Government of Balochistan - the actual stakeholder in the deal.
He requested the court to direct the respondents to explain why the mining process could have not been carried out by Petroleum and Natural Resources ministry and Mining Department themselves and why efforts for doing the same had not been made by the concerned departments so far. He further requested the court to also direct the respondents to preferably complete the whole process of gold mining independently or with the joint venture within the territory of Pakistan and restrain from taking the raw material out of Pakistan so that the whole process could be carried out in Pakistan.
The petitioner questioned as to whether the selling of gold mines worth $260 billion (rather due to the rise of the prices of gold and copper, the total yield could be even $500 billion or may be a trillion dollars) to the foreign companies at a very low price, behind closed doors, secretly, is not fraud and criminal breach of trust? He further questioned as to whether national wealth being disposed of by the respondents to the foreign companies against peanuts price is not high treason?
The petitioner submitted that the respondents by their mutual connivance were selling/disposing of one of the world's biggest gold and copper treasures at Reko Diq, worth almost a trillion dollars, to the foreign companies at throwaway price and the secret negotiations are in progress to finalise the deal as soon as possible. The court after hearing preliminary arguments, directed all the respondents to file their comprehensive reply on the petition till November 24.
Reko Diq is a small town in Chagai District, Balochistan, in a desert area 70 kilometers north west of Naukundi, near the Iran-Afghan border. Reko Diq, also the name of an ancient volcano, literally means sandy peak. It has proven $260 billion dollar reserves of gold and copper.
The petitioner had made the federal government through Secretary Ministry of Petroleum and Natural Resources, chief secretary, Balochistan, Quetta, head of the Department of Mines and Mineral Development of Balochistan Steering Committee through its chairman, Ministry of Petroleum and Natural Resources, Board of Revenue of Balochistan through its chairman, former Board of Directors through its chairman Dr Samar Mubarakmand and reporters of an English daily, as respondents.