Mining licence: Reko Diq hearing to begin on 10th

ISLAMABAD: The International Centre for Settlement of Investment Disputes (ICSID) will start recording evidence on October 10 on Pakistan’s plea against the Tethyan Copper Company (TCC) for procuring a mining licence of Reko Diq through corrupt means.

Attorney-General Ashtar Ausaf Ali will represent the government before the international arbitration centre, which will resume the hearing in the French capital Paris.

“Our (contention) is that the agreement /mining licence was procured by corrupt means … therefore, the claimant (TCC) cannot ask for damages,” the attorney-general told The Express Tribune.

Another senior official said that Pakistan’s legal team would furnish documents proving the state’s contention.

Citing a Supreme Court decision, he said that the apex court clearly maintained that TCC attempted to take undue advantage of political instability at that time.

In January 2013, the Supreme Court had declared void the Chagai Hills Exploration Joint Venture Agreement signed between the Balochistan government and Australian mining company BHP in 1993. After which BHP sold its stakes in the venture to the TCC.

Subsequently, the TCC approached ICSID against Pakistan claiming a loss of investment amounting to $400 million. Its damages claim is still pending. Efforts were later initiated for an out-of-court settlement.

But no such settlement could be struck during the tenure of the former chief minister of Balochistan, Dr Abdul Malik Baloch

A senior Balochistan government official told The Express Tribune that efforts were still being made for an out-of-court settlement between provincial government and TCC.

Published in The Express Tribune, October 7^th, 2016.