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Sunday, December 4, 2022
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Pakistan to Pay $9 Billion in Reko Diq Reference if Deal not signed Between Balochistan & Barrick Gold by 15 Dec

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The lawyer for Barrack Gold informed the Supreme Court on Tuesday that if the company’s agreement with the Pakistan government was finalized by December 15, the penalty of $9 billion on the country would be quashed

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Over $4 billion investment would be made in the Reko Diq project.

A three-judge larger bench heard the presidential reference about the Reko Diq deal.

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He said that the company wanted the court’s opinion to avoid legal complications like the previous agreement about the project.

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Pakistan announced the out-of-court settlement with Barrick Gold in March. Antofagasta agreed to exit the project if Pakistan pays him $900 million.

He emphasized that the Reko Diq deal of $4.297 billion was the single largest investment in Pakistan’s history.

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