Originally from the Journal of Damages in International Arbitration

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TETHYAN COPPER COMPANY PTY LIMITED V. ISLAMIC REPUBLIC OF PAKISTAN, ICSID CASE NO. ARB/12/1
AWARD, JULY 12, 2019

The Parties
Tethyan Copper Company Pty Limited (the “Claimant” or “TCCA”), Islamic Republic of Pakistan (the “Respondent” or “Pakistan”).  Claimant and Respondent are hereinafter referred to individually as a “Party” and collectively as the “Parties.”

Sector
Mining and quarrying

Applicable Treaty
Bilateral Investment Treaty between Australia and Pakistan

Members of the Tribunal
Professor Dr. Klaus Sachs (President), Dr. Stanimir A. Alexandrov (Claimant’s appointee), and Rt. Hon. Lord Leonard Hoffmann (Respondent’s appointee)

I.  BACKGROUND

Claimant is an Australian joint venture between Chile’s Antofagasta plc and Canada’s Barrick Gold Corporation.  In 2006, Claimant became party to a joint venture agreement between the Government of Balochistan with the purpose of exploring for deposits of gold, copper, and other minerals in the Chagai district of Balochistan in Pakistan.