ISLAMABAD – The Supreme Court was informed on Wednesday that the Tethyan Copper Company (TCC) would pay 25 percent of its profit from the Reko Diq project to the Balochistan government.
A three-member bench of Chief Justice Iftikhar Muhammad Chaudhry, Justice Muhammad Sair Ali and Justice Ghulam Rabbani was hearing a number of petitions against the lease of Reko Diq gold and copper mines in Balochistan to a foreign exploration and mining company, Tethyan Copper Company (TCC) by the federal and provincial governments in violation of the law.
During the hearing, Khalid Anwar, counsel for the TCC, told the court that his client would pay 25 percent of its profit to the Balochistan government, which would bring prosperity to the province. He said if foreign companies engaged in Balochistan were discouraged, no company would dare invest there in the future.
