New from StartUpPakistani
Barrack Gold’s lawyers told the Supreme Court on Tuesday that the $9 billion fine against the country would be lifted if the company’s deal with the Pakistani government was completed by Dec. 15.
More than US$4 billion will be invested in the Reko-Diq project.
A larger bench of his three judges heard the president’s mention of his Reko-Diq deal.
He said the company wanted the court’s opinion to avoid legal complications like previous agreements on the project.
Pakistan announced an out-of-court settlement with Barrick Gold in March. Antofagasta has agreed to leave the project if Pakistan pays him his $900 million.
He stressed that the $4.297 billion Reko-Diq deal is the largest single investment in Pakistan’s history.