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Barrick Gold, Antofagasta Expect Pakistan Decision By September: report

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A joint venture between miners Antofagasta and Barrick Gold (ABX.TO) expects a decision on a key mining license in Pakistan by mid-September, potentially paving the way for a major copper and gold project in the country's poorest region, Reuters reported.

Tim Livesey, chief executive of the Tethyan Copper Company (TCC), which has a 75% interest in the Reko Diq project in the southwestern Baluchistan province, reportedly said the group was still awaiting a formal response from the provincial government after filing a feasibility study a year ago and a mining lease application in February.

But he reportedly said Tethyan had had meetings with the federal and provincial governments in recent weeks and was confident a decision would be reached by the September 22 deadline.

The response has been delayed by the Supreme Court, which had barred the Baluchistan government from giving approval for the Reko Diq license until a separate investigation ended, Reuters said. The court in May, however, allowed the government the right to decide on the lease, it added.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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