The penalty centered around Pakistan s cancelling of the Reko Diq mining lease for Australia s Tethyan Copper Corp a 50 50 joint venture of Barrick Gold Corp of Australia and Antofagasto PLC of Chile to build and operate a copper gold open pit mine
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Get Price3 results Located in Balochistan the project area contains three separate large deposits of copper ore gold iron ore molybdenum silver and sulfur Scope of mining in Pakistan Mining is an important industry in Pakistan Pakistan has deposits of several minerals including coal copper gold chromites mineral salt crude oil bauxite
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Get PriceTethyan had invested $220 million in Reko Diq by 2024 when Pakistan terminated its mining lease The company sought help the following year from the tribunal which ruled against Pakistan in 2024 Paying compensation equivalent to 40% of Pakistan s foreign exchange reserves would have been a challenge as it struggles to revive its economy
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