Over 5 billion dollar penalty imposed on Pakistan in Reko Diq case

The World Bank’s International Centre for Settlement of Investment Disputes(ICSID) has imposed a penalty of $5.95 billion against Pakistan in the Reko Diq case. The penalty was imposed on Pakistan for unlawful denial of a mining lease to a Tethyan Copper Company(TCC) for the Reko Diq project in 2011.The company had claimed 11.43 billion dollars… Continue reading Over 5 billion dollar penalty imposed on Pakistan in Reko Diq case

Pak. Army eyes key role in developing giant copper & gold mine

Pakistan’s military is participating in the development of Reko Diq Mine as it considers it as a strategic national asset. However,the mine is facing problems due to (a)multi-billion dollar legal dispute with foreign mining firms and (b)inability to attract foreign investment as Pakistan is under economic crisis. Reko Diq Mine is one of the world’s… Continue reading Pak. Army eyes key role in developing giant copper & gold mine