Barrick Gold’s Lawyer informed the supreme court that if Pakistan and Barrick Gold do not sign the agreement until 15 December 2022, Pakistan has to pay $ 9 billion. In 2019, after Pakistan’s illegal denial of mining, the World Bank tribunal announced a fine for Pakistan. After a long dispute between Barrick Gold and the Pakistan government, the international tribunal succeeded in the settlement in March 2022. Antofagasta announced if Pakistan pays him $900 million, it will exit from the project.
Five judges bench heard the presidential reference about Reko Diq headed by Justice Umar Ata Bandial. The other four are Justice Muneeb Akhtar, Justice Ijazul Ahsan, Justice Jamal Khan Mandokhail, and Justice Yahya Afridi on 22 November 2022.
Makhddom Ali Khan, a representative of Barrick Gold in the Supreme Court, stated that if Pakistan signed the project. It will not have to pay a fine imposed by the international arbitration court.
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