ISLAMABAD. Balochistan Chief Minister Abdul Quddus Bizenjo on Sunday said the Reko Diq project will connect Balochistan with the world and generate employment opportunities for the local masses.

Speaking at a press conference here, he said the agreement and settlement regarding the Reko Diq project will protect the resources of the province and the interests of the local people.

He said: “Balochistan is no longer to be a place for insurgency; rather it will be a field of investment, construction and development”. The Reko Diq project will bring an "end" to the prevailing sense of deprivation and backwardness of Balochistan, he said, adding: “It will be a game-changer initiative”.

The ten-year delay in the decision regarding the multi-billion-dollar copper and gold project of Reko Diq caused damage to the investors and future generations, the Balochistan CM added

"The job of the leadership is to make decisions and I have played my role in ensuring prosperous future of the people," he said, “Awarding the 25 per cent direct shares to Balochistan without any investment in the project is a historical achievement”.

As per the new agreement, the Barrick Gold Corporation -- the mining company -- would retain 50 per cent share, while the Government of Balochistan would get 25 per cent share, and the rest 25 per cent share would be attributed to the state-owned enterprises' Oil and Gas Development Company (OGDCL), Pakistan Petroleum Limited (PPL), and Government Holdings Pakistan (GHPL).

Barrick Gold Corporation and the Governments of Pakistan and Balochistan have reached an agreement in principle on a framework that provides for the reconstitution of the Reko Diq project.

The project was suspended in 2011 due to a dispute over the legality of its licensing process.