Barrick and Antofagasta win US$5.8B Pakistan ruling | Metals Mine

  • Barrick and Antofagasta win US$5.8B Pakistan ruling

    From bnnbloomberg.ca

    A US$5.8 billion arbitration ruling on a massive copper and gold deposit in Pakistan is a victory for Barrick Gold Corp. () and Antofagasta Plc (ANFGF.PK) though the project remains a long way from development. “I think, at the end of the day, Reko Diq will be developed,” Barrick Chief Executive Officer Mark Bristow said, referring to the Pakistan deposit. “The question is when, and by who.” Antofagasta surged 5.3 per cent in London for its biggest gain in a month following the ruling by an international arbitration tribunal. Barrick rose 0.8 per cent to $21.69 at 9:39 a.m. in Toronto. A big challenge could ... (full story)

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perma-bull
Jul 15, 2019 9:47am
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The damages include compensation of $4.09 billion for the fair market value of the Reko Diq project when the mining lease was denied and interest of $1.75 billion. The tribunal also awarded the joint venture just under $62 million in costs.
they will never get that money from pakistan
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