ISLAMABAD - Pakistan will have to pay almost US$6 billion in damages to a foreign gold mining firm whose dig was shut down by the government in 2011, the World Bank said Sunday.
But the project came to a standstill in 2011 after the local government refused to renew the consortium's lease, and in 2013 Pakistan's top court declared it invalid. The country's legal experts were"studying the Award and reflecting upon its financial and legal implications," the statement continued.
Barrick and Antofagasta say the proposed plant could produce 600,000 tonnes of copper and 250,000 ounces of gold a year.
So Pakistan will pay World Bank, but only after taking a debt from World Bank.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
A*Star, Rolls-Royce pump additional S$8m into joint labROLLS-ROYCE and the Agency for Science, Technology and Research (A*Star) announced on Friday that they are investing an additional S$8 million into their joint lab with Singapore Aero Engine Services (SAESL). Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Rolls-Royce, A*Star pump extra S$8m into joint labROLLS-ROYCE and the Agency for Science, Technology and Research (A*Star) announced on Friday that they are investing a further S$8 million into their joint lab with Singapore Aero Engine Services (SAESL). Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Bank of England picks World War II code breaker Alan Turing for £50 banknotesMANCHESTER: Mathematician Alan Turing, who helped Britain win World War II but killed himself after being convicted of homosexuality in 1952, will ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
SGX seeks price limits on stock auctions after $41 bln flash crashSINGAPORE: Singapore Exchange's regulatory unit is proposing imposing price limits during daily stock auctions to prevent incidents such as the ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Utility firm says power restored to most parts of Manhattan hit by massive blackout on SaturdayNEW YORK (REUTERS) - A wide swath of New York’s Manhattan borough was plunged into darkness on Saturday (July 13) after a transformer explosion knocked out power to subways, stores and Broadway theatres, but the city’s main utility company said it had restored most power within hours.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »