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12 January 2010 at 15:15 IST
Pakistan to cancel gold mining venture
A Pakistani provincial government says it will cancel a $3-billion foreign joint-venture copper and gold mining project in the southwestern province of Baluchistan.
The expected cancellation was apparently aimed at easing anger in Pakistan's biggest but poorest province over outsiders' exploitation of its natural resources.
Tethyan Copper Co. Ltd., a joint venture between Canada's Barrick Gold and Chile's Antofagasta Plc <ANTO.L>, one of the world's largest copper miners, had been granted an exploration license for the Reko Diq site in the southwestern province of Baluchistan.
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