Biafo Industries Signs Collaboration Agreement with Reko Diq Mining

Reko Diq Mining Company (RDMC) has partnered with Biafo Industries Limited to provide blasting services for the pre-mining infrastructure development at the Reko Diq site.

The company told the Pakistan Stock Exchange (PSX) about this change in a letter on Monday.

As part of the deal, explosives and civil blasting services will be provided to help with the first groundwork at the mine site.

“We are pleased to inform you that the Company has signed a Blasting Services (Civil) contract with Reko Diq Mining Company (Private) Limited (RDMC). “This is a contract for the supply of explosives and related civil blasting services for the pre-mining initial infrastructure development at the Reko Diq mining site,” according to the notification Biafo Industries filed to PSX.

Canadian firm Barrick Gold owns 50% of Reko Diq, which is one of the world’s largest undeveloped copper-gold deposits. Three federal state-owned firms each control 25%, and the Government of Balochistan owns 25% (with 15% fully funded and 10% free carried).

The main product line of Biafo Industries is commercial explosives, along with blasting accessories such as detonators and other materials. In accordance with the Companies Ordinance, 1984 (now the Companies Act, 2017), it was established in Pakistan as a public limited company on September 07, 1988. On July 1, 1994, the company began commercial manufacturing.