|Antofagasta: Pakistan to Pay Damages for Denying Mining Lease|
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LONDON--Antofagasta PLC (ANTO.LN) said Tuesday the Islamic Republic of Pakistan had violated several provisions of its bilateral investment treaty with Australia when it denied the Tethyan Copper Company Pty Ltd. a mining lease for the Reko Diq project in 2011.
Pakistan will have to pay the company damages, Antofagasta said.
Tethyan Copper Company is a joint venture between the company and Barrick Gold Corp. (ABX.T) and is incorporated in Australia.