ISLAMABAD: The Supreme Court of Pakistan termed the lease of gold and copper mines in Reko Diq to Tethyan Copper Company (TCC) “illegal”, reported Express News on Monday.
The court had reserved the 16-page judgement in the case on December 21, and announced the short verdict today. The court also accepted applications to hear against TCC.
Several identical petitions had been filed in the SC against the lease of gold and copper mines in Reko Diq to TCC – a consortium of Canada-based Barrick Gold and Chile-base Antofagasta Minerals.
TCC had invoked the jurisdiction of the International Chambers for Commerce and International Centre for Settlement of Investment Disputed against the government of Pakistan for not renewing the prospective Reko Diq minerals licence in accordance with Balochistan Mining Rules 2002.
Reko Diq is a multi-billion dollar project in the area of district Chaghi of Balochistan where millions of tonnes of copper and gold were identified in different reports prepared by world renowned companies.