The International Center for Settlement of Investment Disputes (ICSID) said Pakistan violated several provisions of its bilateral investment treaty with Australia, where the joint venture between Barrick and Antofagasta is incorporated.
PAKISTAN Mining News
At least five people have been killed and eight others sustained injuries as a result of a gas explosion inside a coal mine in northwest Pakistan near the border with Afghanistan.
A mine collapsed after heavy rains in northwest Pakistan, killing at least five workers and injuring 10 others, authorities said Sunday.
After methane gas explosion triggered a collapse in a coal mine located about 145 km. off the provincial capital of Quetta.
Threaten to strike.
The first plant is expected to become operational by 2016.
The possibility of a nuclear war between Pakistan and India grows every day.
According to Pakistan Economy Watch, the strategic decision is appropriate as prices of imported oil will never come down to reasonable level, gas supply from Iran and Turkmenistan remains uncertain while reserves of native natural gas are depleting, it said.
Dawn reported that the World Bank has withdrawn its commitment of providing an IDA Credit of $30 million for the Thar Coal and Power Project because of their policy of focusing on low carbon technologies.
The estimates indicate that 135 to 175 billion tonnes of lignite coal can be obtained from the deposit, which can produce thousands of megawatts of electricity for decades.
ISLAMABAD - As the government is finding ways to cope with prevailing energy crisis in the country, the Planning Commission has termed the Thar Coal project unfeasible.
Pakistan's Reko Diq, an untapped copper and gold mine of fabulous potential, was meant to be the biggest foreign investment in the country's mining sector, but it's beginning to look more like fool's gold to the companies involved.
A group of firms based in the United States claims to have formed a consortium that will look to raise up to $10 billion to invest in coal mining, electricity generation, and fertiliser manufacturing in the Thar desert in Sindh.
Member of the Science and Technology Planning Commission, Dr Samar Mubarakmand on Monday said that Pakistan has enough coal reserves that can provide electricity to the country for more than 30 years.Talking to a private news channel, he said that Thar...
The Government of Sindh in Pakistan has signed four Memorandum of Understanding (MoUs) with two Chinese companies for investment in energy projects worth $10 billion.
Barrick Gold says it will fight for the right to develop a gold project in Pakistan after a provincial government rejected its lease application earlier this month. Canadian Press reports that Tethyan Copper, a partnership between Canada-based Barrick Gold (TSE:ABX) and Chile-based Antofagasta (LON:ANTO) has filed for international arbitration after the Balochistan government turned down its application without meeting with the companies.
The Globe & Mail reports local authorities in the Pakistani province of Balochistan refused to meet Tethyan Copper, a joint venture between Chile’s Antofagasta and Barrick Gold, for talks before rejecting a bid for one of the world's richest deposits of gold and copper at a remote site in the dry hills near the Afghan-Pakistan border, known as Reko Diq. Tethyan Copper said a “summary decision” by the restive province to reject a mining lease application for its Reko Diq project breached local rules and Pakistani law and has now filed a "notice of dispute." The company submitted a feasibility study earlier this year that indicated 22 billion lb of copper and 13 million oz of gold at the site. The Balochistan decision now paves the way for a Chinese consortium to construct a mine and processing facility.
The Antofagasta/Barrick Gold JV says the Baluchistan province's rejection of its Reko Diq mining lease application breached local rules and Pakistani law. Tethyan Copper, a joint venture between Chile's Antofagasta and Barrick Gold, said a "summary
A Chinese firm will invest over four billion dollars in Thar coal to generate 900 megawatts of power by the year 2014.
The News reported that Pakistan Steel Mills kept its production of iron uninterrupted by using coke breeze, a by product of coke at a time when it was facing acute shortage of funds to purchase raw material for the product. Mr Asif Mahmood acting CEO of
Al Jazeera profiles the dangerous mining work in the Mingora emerald mines in Pakistan. "We work in the jaws of death, but we are poor and don't have a choice. Thank god the owners have been kind enough to give me a job," says one worker in the video. About 150 labourers are employed in at least 16 such mines.
Bloomberg reports Antofagasta Plc, the copper giant controlled by Chile’s Luksic family, on Wednesday said second-quarter output increased 17% boosted by additional ore from the Esperanza mine in Chile that began shipping at the start of the year. Antofagasta is actively diversifying outside of its home base and is awaiting the outcome of a joint bid for a mine in Pakistan that has the potential to add 200,000 tonnes of copper annually.
After rejecting a deal reached by fellow tribesmen, hundreds of Marri tribesmen backed by their chief blocked transportation of coal from Chamalang in Balochistan Pakistan to other parts of the country on Saturday. The blockade follows weeks of deadly skirmishes for control of the coal fields that hold recoverable reserves more than 500 million tonnes. The high-quality Chamalang coal mines were first discoverd in 1885 (see historic map) when the country was under British rule and a 30-year bloody war between the Pashtoon Luni and Marri tribes over the recoverable reserves were ended only after the Pakistan Army intervened in 2006 and mining could restart. The latest dispute is between the Marri leader who signed the peace treaty with the Luni and the leader of the separatist movement in Balochistan.