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Antofagasta, Barrick JV invokes arbitration on Reko Dig project

ISLAMABAD : Tethyan Copper, a joint venture between Chile 's Antofagasta and Barrick Gold, said on Tuesday it had app
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tethyan-copperISLAMABAD: Tethyan Copper, a joint venture between Chile's Antofagasta and Barrick Gold, said on Tuesday it had applied for international arbitration after Pakistan's Baluchistan province rejected a mining lease application for its Reko Diq project.

"We have to initiate arbitral proceedings in order to protect our rights," Tim Livesey, CEO of Tethyan Copper Company (TCC), said in a statement.

However, he said, TCC was open for talks with the Balochistan government to work towards an "amicable, negotiated resolution of the dispute".

 

Copyright Reuters, 2011

 

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