LONDON--Antofagasta PLC (ANTO.LN) said Tuesday the Islamic Republic of Pakistan had violated several provisions of its bilateral investment treaty with Australia when it denied the Tethyan Copper Company Pty Ltd. a mining lease for the Reko Diq project in 2011.

Pakistan will have to pay the company damages, Antofagasta said.

Tethyan Copper Company is a joint venture between the company and Barrick Gold Corp. (ABX.T) and is incorporated in Australia.

Shares at 1120 GMT down 7 pence, or 0.8%, at 842.50 pence valuing the company at GBP8.31 billion.

-Write to Olga Cotaga at olga.cotaga@wsj.com, Twitter @OlgaCotaga

(END) Dow Jones Newswires

March 21, 2017 07:33 ET (11:33 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.
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