In November 2017, the ICSID rejected Pakistan's more than one dozen allegations of corruption in Reko Diq
Addressing a press conference at the Balochistan Hight Court on Saturady, the Supreme Court Bar Association (SCBA) president Amanullah Kanrani lashed out at the provincial government of Balochistan for once again opening its doors for negotiations with the TCC (Tehthyan Copper Company), despite the fact that the Supreme Court has already declared its verdict over Reko Diq
null and void and ab initio.
'We have lost Reko Diq
case in both international court and ICSID,' said Mr Alyani while concluding a debate on an adjournment motion on the ICSID decision on Monday night.
Coming back to Reko Diq
issue, the Caretaker Government of PM Moin Ahmed Qureshi and his CM Balochistan, signed exploration contract in July 1993 with BHP Minerals.
The story of gross mismanagement in Reko Diq
begins in July 1993.
Iftikhar Chaudhry cancelled the contract of Reko Diq
mining exploration in 2011.
Shaikh said reko diq
was the only solution itself if it was executed in a proper manner.
Only high-efficiency mining techniques and cutting-edge technology can achieve economic feasibility for the TCC Reko Diq
He said as per an estimate the value of Reko Diq
mines, the fifth largest such mines in the world, is not less than 3 trillion dollars.
It was very heartening to see that the Government of Balochistan in the 1980s, in spite of alarming law and order situation, were able to attract world mining giants to invest in exploration at Reko Diq
Damages include compensation of $4.087 billion in relation to the fair market value of the Reko Diq
project at the time the mining lease was denied, and interest until the date of the award of $1.753 billion.
He said the Reko Diq
conflict was not handled properly in the past governments.