A three-year recession in Venezuela paired with ramping inflation and food shortages has prompted many mining for gold in mafia-run illicit operations.
The International Center for Settlement of Investment Disputes (ICSID) said Pakistan violated several provisions of its bilateral investment treaty with Australia, where the joint venture between Barrick and Antofagasta is incorporated.
The country, already the world's second largest producer of lithium, is seeking to create private-public partnerships to exploit 61% of its resource-rich territory, currently available for licensing.