SANTIAGO: A World Bank arbitration court has ordered the Pakistani government pay damages of $5.8 billion to Tethyan Copper, a joint venture between Chile’s Antofagasta Plc and Canada’s Barrick Gold, the Chilean miner said late on Friday.
Tethyan Copper discovered vast mineral wealth more than a decade ago in Reko Diq, at the foot of an extinct volcano near Pakistan’s frontier with Iran and Afghanistan. The deposit was set to rank among the world’s biggest untapped copper and gold mines.
The company said it had invested more than $220 million by the time Pakistan’s government, in 2011, unexpectedly refused to grant them the mining lease needed to keep operating.
The World Bank’s International Center for Settlement of Investment Disputes (ICSID) ruled against Pakistan in 2017, but until now had yet to determine the damages owed to Tethyan.
Tethyan board chair William Hayes said in a statement the company was still “willing to strike a deal with Pakistan,” but added that “it would continue protecting its commercial and legal interests until the dispute was over.”
The Reko Diq mine has become a test case for Prime Minister Imran Khan’s ability to attract serious foreign investment to Pakistan as it struggles to stave off an economic crisis that has forced it to seek an International Monetary Fund bailout.
World Bank court orders Pakistan to pay $5.8 billion damages to Tethyan Copper
World Bank court orders Pakistan to pay $5.8 billion damages to Tethyan Copper
- Tethyan discovered vast mineral wealth more than a decade ago in Reko Diq in southwestern Balochistan province
- Company says had invested over $220 million when Pakistan government unexpectedly refused to grant them the mining lease in 2011
Pakistan urges pilgrims to complete Saudi biometrics as Hajj preparations gain pace
- Government warns pilgrims biometric verification is required for Hajj visas
- Step follows tighter oversight after last year’s Hajj travel disruptions
ISLAMABAD: Pakistan’s government on Friday urged aspiring pilgrims to complete mandatory Saudi biometric verification for Hajj visas, as preparations for the 2026 pilgrimage gather pace following stricter oversight of the Hajj process.
The announcement comes only a day after Pakistan’s Religious Affairs Minister Sardar Muhammad Yousuf said regulations for private Hajj operators had been tightened, reducing their quota following widespread complaints last year, when tens of thousands of pilgrims were unable to travel under the private Hajj scheme.
“Saudi biometric verification is mandatory for the issuance of Hajj visas,” the Ministry of Religious Affairs said in a statement, urging pilgrims to complete the process promptly to avoid delays.
“Hajj pilgrims should complete their biometric verification at home using the ‘Saudi Visa Bio’ app as soon as possible,” it added.
The statement said the pilgrims who were unable to complete biometric verification through the mobile application should visit designated Saudi Tasheer centers before Feb. 8, adding that details of the centers were available on Pakistan’s official Hajj mobile application.
Pakistan has been steadily implementing digital and procedural requirements for pilgrims ahead of Hajj 2026, including mandatory training sessions, biometric checks and greater use of mobile applications, as part of efforts to reduce mismanagement.
Saudi Arabia has allocated Pakistan a quota of 179,210 pilgrims for Hajj 2026, with the majority of seats reserved under the government scheme and the remainder allocated to private tour operators.
