BREAKING: Antofagasta Backs Baaghi TV’s Claims of $4.7 Billion Fine
Antofagasta makes official announcement in Spanish
BREAKING NEWS: Pakistan government yet to respond to claims of a fine of US $4.7 billion in case against Antofagasta and Barrick Gold.
Baaghi TV had reported through very reliable sources that the Government of Pakistan has been fighting a losing battle in the international court. The International Centre for settlement of Investment Disputes (ICSID) has reportedly awarded a claim of $4 billion against Pakistan and in favor of Barrick Gold (Canada) and Antofagasta (Chile) in Tethyan Copper case. Baaghi TV had also reported that this data was being uploaded on to the website of the ICSID.
Baaghi had further confirmed through reliable sources that the government will be fined approximately $4 billion due to the folly of Former Chief Justice Iftikhar Chaudhry and his irrational decisions. A case was filed against Pakistan in 2012 by Barrick and Antofagasta against Pakistan in the International Centre for Settlement of Investment Disputes (ICSID) under violation of Bilateral investment treaty with Canada as the original agreement was signed with Tethyan Copper incorporated in Canada and Chile.
Baaghi had also reported that both the international companies went into litigation against Government of Pakistan immediately after they had been blocked from carrying out their contractual obligations. At the time this happened, many had attempted to advise Mr. Iftikhar Chaudhry about the setbacks Pakistan would have to face, however, he paid no heed.
Moreover, Baaghi confirmed that the total cost which Pakistan’s government would have to pay would be more than $4 billion as they would have to pay back the amount nearly, US $4.7 billion, including interest.
Baaghi can now confirm that Antofagasta has also announced this in Spanish. According to reliable sources, the English version of Antofagasta’s announcement will soon be made available.
This proves that Baaghi TV’s sources were correct about their estimations. While Antofagasta has confirmed, no one from the Pakistan government has stepped forward to either deny or accept the claims of such a loss.
Stay tuned to Baaghi TV for further developments.