https://tribune.com.pk/story/1455875/reko-diq-gold-mine-project-pakistan-may-face-11-5-billion-penalty/ By Zafar Bhutta Published: July 12, 2017 ISLAMABAD: An arbitration tribunal of the World Bank has ruled in favor of Tethyan Copper Company Pvt Ltd (TCC) in a case involving the Reko Diq gold mine project in Balochistan. As a result of the ruling, Pakistan may face a penalty of $11.5 billion for not awarding the project to TCC. The World Bank’s International Center for Settlement of Investment Disputes (ICSID) had earlier rejected Pakistan government’s application to dismiss TCC’s claims on grounds of corruption and malpractices by the latter. Both the federal and provincial governments submitted applications before the ICSID and the International Criminal Court (ICC) in The Hague during 2015-16, seeking admittance of new evidence showing TCC’s corrupt practices in Reko Diq affairs for illegal and undue gains. The move was futile, however, as the court ruled against the govern
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