Reko Diq mine project agreement was suspended in ________ due to a dispute over the legality of its licensing process.
Reko Diq Despute Pakistan
Reko Diq mine project agreement was suspended in 2011 due to a dispute over the legality of its licensing process. As a result, the International Court of Arbitration levelled a $6.4bn awards on the government of Pakistan while at the same time the London Court of Arbitration was also imposing another $4bn fine on Pakistan.
Reko Diq mine project is situated in Balochistan’s Chaghi district. it is one of the biggest undeveloped copper and gold deposits in the world. Reko Dig mine project is capable of producing 200,000 tons of copper and 250,000 ounces of gold a year for more than half a century, according to a feasibility study before the dispute.
Reko Diq case summary
In continuous efforts by PTI Govt under the leadership of PM Imran Khan, today the agreement to use Reko Diq has been successful. 10 Billion will be invested in Balochistan after the compensation of 11 billion dollars, which will create 8000 new jobs
— Tehreek-e-Insaf (@InsafPK) March 21, 2022
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