Antofagasta: Pakistan to Pay Damages for Denying Mining Lease
March 21 2017 - 7:48AM
Dow Jones News
LONDON--Antofagasta PLC (ANTO.LN) said Tuesday the Islamic
Republic of Pakistan had violated several provisions of its
bilateral investment treaty with Australia when it denied the
Tethyan Copper Company Pty Ltd. a mining lease for the Reko Diq
project in 2011.
Pakistan will have to pay the company damages, Antofagasta
said.
Tethyan Copper Company is a joint venture between the company
and Barrick Gold Corp. (ABX.T) and is incorporated in
Australia.
Shares at 1120 GMT down 7 pence, or 0.8%, at 842.50 pence
valuing the company at GBP8.31 billion.
-Write to Olga Cotaga at olga.cotaga@wsj.com, Twitter
@OlgaCotaga
(END) Dow Jones Newswires
March 21, 2017 07:33 ET (11:33 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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