Claimant is an Australian joint venture between Chile’s Antofagasta plc and Canada’s Barrick Gold Corporation. In 2006, Claimant became a party to a joint venture agreement between it and 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. From 2006, Claimant, together with its wholly owned Pakistani subsidiary, Tethyan Copper Company Pakistan (Private) Limited (TCCP, and collectively with TCCA, known as TCC), carried out an exploration project known as Reko Diq.

In 2010, Claimant formally submitted a feasibility study envisaged in the joint venture agreement (Feasibility Study) to the Government of Balochistan. The Feasibility Study examined the technical and economic feasibility of a base case mining project and its future expansion and concluded that the project would have gone forward and become operational and profitable in due course. The same year, Claimant and TCCP provided notice to the Government of Balochistan of their election to participate in the development of Reko Diq. In 2011, TCCP submitted an application for a mining lease in Reko Diq (Lease Application). This Lease Application was rejected by the Mines & Mineral Development Department of the Licensing Authority (Balochistan) (Licensing Authority). A few days later, TCCP filed an administrative appeal of the order, but it was also denied.