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Local officials visit the gold and copper mine site, in Reko Diq district in southwestern Pakistan's Baluchistan province
A CORPORATE court run by the World Bank has given Pakistan a stay pending a final decision on its punishment for refusing permission to an Australian firm to mine for gold and copper.
The International Centre for Settlement of Investment Disputes has imposed an eye-watering $5.8 billion (£4.5bn) fine on Pakistan, approximately 2 per cent of its GDP, for cancelling the Reko Diq mining lease for Tethyan Copper Corp to sink an open-pit copper and gold mine.
It is the biggest such arbitration award ever and amounts to almost 30 times what the company invested in Reko Diq.
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