Pakistan and the Tethyan Copper Company are negotiating a ‘confidentiality agreement’ as part of their out of court settlement of their dispute over the multi-billion-dollar Reko Diq copper and gold reserve in Balochistan. They have been fighting legal battles and arbitration proceedings for over five years now.
On the conclusion of their arbitration proceedings in Paris in October, the president of the International Centre for Settlement of Investment Disputes (ICSID) tribunal had encouraged the two sides to try to resolve the matter mutually before the tribunal came out with an award that would be binding on both sides.
Both sides indicated their willingness for a negotiated settlement,
The Tethyan Copper Company (TCC) is a joint venture of Chile’s Antofagasta and Canada’s Barrick Gold, and was responsible for developing the Reko Diq block in the Chaghai district of Balochistan.
