[2][3] The Reko Diq area is part of the Tethyan Magmatic Arc, extending through central and southeast Europe (Hungary, Romania, Bulgaria, Greece) Turkey, Iran and Pakistan through the Himalayan region into Myanmar, Malaysia, Indonesia and Papua New Guinea.

The eastern and central sections of the belt are well recognized hosting world class mineralization such as Grasberg, Batu Hijau in Indonesia, Ok Tedi in Papua New Guinea and Sar Cheshmeh in Iran.

Whereas in the eastern Europe it hosts world class porphyry/epithermal cluster of Bor, Majdanpek in Serbia and more recent developments include Skouries and Olympias Greece, and Çöpler in Turkey.

Tethyan is seeking to develop the Reko Diq copper-gold deposit in the Chagai Hills District of the province of Balochistan in south-west Pakistan.

Reko Diq Dispute Tethyan completed the feasibility study in respect of the project and submitted this to the Government of Balochistan in August 2010.

The tribunal opted to use a formula for calculating damages for the canceled lease based on the assumed profits Tethyan might have earned from the mine over 56 years.

In March 2021, the Auditor General of Pakistan (AGP) office announced that it had filed a request on November 8, 2019, for the annulment of the award rendered by the ICSID on July 12, 2019.

The ICSID is still considering Pakistan's appeal against the penalty over its decision to cancel the Reko Diq mining lease for the TTC and a final hearing will take place in May 2021.