Baluchistan is an important province of Pakistan located in the foothills of the Himalayas near Afghanistan and in close vicinity to China, Iran, Israel, and Afghanistan. The region has been occupied by Pakistani forces for centuries and is a strategic point for oil reserves, water resources, raw materials, and foreign investments. Currently, it hosts around 100,000 troops and civilians. In addition, there are approximately 500 projects including gas pipelines, power plants, roads, rail links, electricity generation, distribution lines, telecommunication infrastructure, warehousing facilities, etc. At present, the Rekodiq mine is producing gold, silver, lead and copper. A total of 14 million tons are produced annually.
Rekodiq is one of the top-tier mining companies in Pakistan. It was established in 1989 as a joint venture between AIMCO and Sumitovalta (Pakistan’s largest metals company), after which it went public in 2000 as a listed company with shares held by all shareholders including the Government of Pakistan. Initially, this mine had only two million ounces of gold production annually but later scaled up to 13 million ounces annually in 2018. After its initial success, we have witnessed consistent growth from the 1 million ounces per year average production by 2009 to 15 million ounces per year average production by 2020. With new technologies, equipment, and strategies introduced in 2019, Rekodiq is continuing to set the pace in international development. Rekodiq also employs more than 1,800 workers at various stages of production.
Rekodiq is currently developing three gold mines in Karachi (Pakistan) and three others in Karachi and Mohali (Pakistan). Rekodiq Gold Corporation (RGC) is the world’s seventh-largest gold producer and sixth-largest platinum producer. RGC has nine operating gold mines, 10 projects in the United States (USA), and 11 projects in Mexico, with the highest gold grades of any gold manufacturer with an asset base of about $26 billion. Since 2007, rekodiq has been advancing operations through investment and acquisitions in North American goldfields, especially in California, Idaho, Washington State, and Arizona.
The project has earned respect and admiration among stakeholders for its high-quality standards which are well documented and proven time and again in similar mines. Rekodiq holds many awards and recognitions, including being rated Top-Ranked Reserves per Ton (RPT) among other highly regarded industrial minerals. Over the past 24 years, RGC has received multiple recognition recognitions such as ‘Agency for Mineral Resources Management Award for Excellence (2001); Top-Sector Company (2004); ‘Karnataka Gold Medal’ (2008); and the “Socially Responsible Resource Development” award by World Wildlife Fund (2010).
Rekodiq Mining is located in Northern Baluchistan Province in Pakistan and is ranked the second-largest gold producer after Canada. Rekodiq’s portfolio covers six countries namely; Argentina, Australia, Bangladesh, India, Nepal, and South Africa. Besides these four countries,
Rekodiq owns 20 percent stakes in eight neighboring countries: Colombia, Ecuador, Mali, Peru, Burkina Faso, Tunisia, Jordan, Lebanon, and Syria.
Rekodiq’s products have met virtually every standard required for mining gold in industrial nations across the globe. All Rekodiq gold mines are designed to produce 6 tons of gold per day for export. Each tonnage includes 3,000 tons of concentrate and over 5,000 tons of waste rock, including slush and tailings. They were developed in accordance with strict safety standards and environmental regulations. These standards are carried out in line with the International Union of Standardization (ISO). The focus of their design is to achieve zero discharge of toxic substances into the environment and to mitigate against noise pollution and hazards linked to excavations such as landslides and ground vibrations. When underground structures fail, heavy machinery will be brought in to keep operations running and maintain them. This approach is very much different compared to conventional construction projects. This system consists of automatic control systems for excavation, gravity haul trucks, hydraulics and ladders to move equipment around the site without having to rely on human intervention. The entire complex is designed to withstand all weather conditions, making each site unique and cost-effective. An auxiliary crane is used to transport large bulk quantities in hazardous locations. To help prevent theft and accidents, it is equipped with a multi-level containment fence and a perimeter fencing system for extra security. Rekodiq’s staff is empowered to use force only twice a month to work in extremely challenging areas during severe winter weather conditions. And they also provide emergency medical care and counseling.
Rekodiq’s gold mines have undergone rigorous testing on both human and animal health. As part of the process, all employees undergo specialized training and have access to adequate personal protective equipment (PPE). Safety measures are put in place to ensure that everyone who works onsite can operate safely in these sites under extreme heat, humidity, and high pressure. Rekodiq maintains strict maintenance procedures throughout the mining site and conducts regular checks of site equipment, equipment networks, plant maintenance, geotechnical surveys, and construction management systems.
Rekodiq operates several facilities which enhance the overall reliability of the project, and include processing plant and underground workings. Using innovative technology, Rekodiq’s project team has successfully implemented state-of-the-art solutions and designs to improve operational efficiencies and reduce labor costs and carbon footprint. These solutions include modern equipment storage buildings and modular systems. Furthermore, Rekodiq continues to install advanced machine tools and equipment control systems to increase throughput and productivity, while reducing expenditure on physical labor, resources and space, improving efficiency and lowering energy requirements. For example, when drilling is not possible, an automated arm hoist pulls the ore out of surface and transfers the metal to a truck, where it is loaded onto a conveyor, transported over a long distance for another job and delivered to customers. On average, a miner spends more than four days in the extraction facility. The majority of the company’s employees live in nearby towns or rural areas. Their families support
their businesses, which helps create connections with family and friends and contributes to the local economy. Due to social responsibility, Rekodiq offers maternity leave and flexible working policies. Rekodiq also provides mental health and addiction programs and supports programs that help address the needs of persons living with HIV/AIDS. The company has been recognized regularly as a national winner in employment opportunities. Recently, Rekodiq won the Most Valuable Employer Award at the 2019 Human Capital Awards, which highlights employers that Excel in providing a positive workplace experience for all.
Rekodiq owns seven properties including commercial property in Dubai, four residential properties in Saudi Arabia, and three retail properties in Oman. Rekodiq currently holds more than 16.4 million square feet, which accounts for over half of its gross leasable area (GLA). Its assets total $1.3 trillion. More than 70% of the revenue is derived from the gold mines, although it has extensive holdings in non-gold mineral exploration and development, including oil fields, timberlands, and renewable energy. In terms of profitability, rekodiq generates revenues of nearly Rs 35,000 crore (US$ 5,000 m) per annum. Its earnings are mainly generated from cash and stock dividends.
Rekodiq Gold Corporation trades on the Bombay Stock Exchange (BSE) under the tickers RECIQ and RMCDY. Its headquarters are based in Mumbai, India, with regional offices in London, Dublin and Hong Kong. Our wholly owned subsidiary Barrick Gold Ltd (Ausgard LLC) is recognized as the world’s biggest gold producer and supplies natural and man-made
metals, jewelry and watches. Rekodiq operates 14 mines in five countries, employing 1.5 million people worldwide. We are consistently ranked amongst the 50 most sustainable companies in the world.
Comments are closed.