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TCCA plea rejected by ICSID: Kanrani




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    Advocate General Balochistan Amanullah Kanrani claimed on Friday that International Centre for Settlement of Investment Disputes (ICSID) Tribunal has rejected the application of Tethyan Copper Company Australia (TCCA). Talking to journalists outside Supreme Court, he said that the tribunal had allowed the provincial government of Balochistan and Dr Samar Mubarakmand to carry out mining and smelting project (H-4 of 12 kms) at Reko Diq. 

    TCCA had approached ICSID with a plea that since government of Balochistan intended to commence work through a project headed by Dr Samar Mubarakmand, the government of Pakistan be restrained from carrying out any mining work at Reko Deq area. It was further argued that since TCC had carried out extensive feasibility and several other studies besides investing millions of dollars; therefore they had legitimate expectation of being awarded the license for mining. 

    Kanrani said a three-member Tribunal of Dr Klaus Sachs, Lord Hoffman and Stanimir A Alexandrov released the verdict on December 13. Kanrani further said that in its 45-page verdict, the Tribunal had declined to accept TCC’s plea regarding urgency and irreparable loss, adding that the ICSID had asked the Balochistan government to keep the Tribunal informed of all the developments on a regular basis about the activities that would be carried out in the Reko Diq area by Dr Samar and his team. 

    He said that earlier, the claimant in their application had requested to freeze work of the Government of Balochistan in 99 square kilometers of area, including H/4. Kanrani said the government in its reply had stated that they were working on H/4 area, 12 kilometres away from H/14 and H/15 for, which the TCC had filed a feasibility. Giving details of the proceedings, he said Dr Samar had also appeared before the Tribunal in London to explain the technical details of the Project and stated that earliest development of H/4 deposits was in the national interest of the people of Balochistan and Pakistan. 

    “Earlier the application of TCC was rejected by the mining authority of Balochistan on grounds that they had filed feasibility of only 6 kilometers area comprising two deposits whereas they wanted to acquire 99 kilometers that contain 14 deposits,” Kanrani concluded. 

    Copyright Business Recorder, 2012

     

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