Current Affairs - International - Discussion
Discussion Forum : International - Latest Current Affairs (Q.No. 5126)
5126.
Name the country which was penalized by World Bank Arbitration Court worth $5.8 billion for unlawful denial of a mining lease to Tethyan Copper Company for the Reko Diq project in 2011?
Answer: Option
Explanation:
World Bank Arbitration Court imposed a penalty of $5.8 billion on Pakistan for unlawful denial of a mining lease to Tethyan Copper Company for the Reko Diq project in 2011.Background: In 2012, Tethyan Copper Company had approached the International Centre for Settlement of Investment Disputes (ICSID) after the Balochistan government declined its lease request. Pakistan's Supreme Court had terminated the deal in 2013. The case continued for at least 7 years.
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