Pakistan may have to pay a damages claim worth $11 billion after losing the infamous Reko Diq case to an Australian mining company.
At issue is Turkey’s taking of Westwater’s Temrezli and Şefaatli uranium projects in June 2018.
Former Canadian mining company Crystallex has resumed efforts to auction shares of Venezuelan-controlled US refiner Citgo and accused Caracas of breaching an earlier settlement to stave off the sale.
Westwater Resources, an energy materials development company, announced the filing of a request for arbitration against the Republic of Turkey for the taking of its Temrezli and Şefaatli uranium projects in June 2018.
Foreign investors say the tax hikes under the new code will deter further investment and have threatened to challenge some parts of the regulation in arbitration.
Gabon has shown interest in entering into a Bilateral Investment Treaty with India. Gabon has the 6th largest reserves of Manganese in the world. Gabon is also making efforts to attract investment from India in construction of railway lines in key mining clusters.
Venezuela made an partial payment of a settlement designed to resolve a $1.2 billion arbitration award to a bankrupt Canadian gold miner that’s laying claim to the assets of the parent of refiner Citgo Holding Inc. if it’s not paid in full.
The Hague-based Permanent Court of Arbitration has awarded South American Silver $18.7 million for amounts invested and another $9 million in interest for its Malku Khota concession, which the Bolivian government revoked in 2012.
Tanzania is currently facing 13 cases on investment disputes in various international courts with $185.58 million (about Sh426 billion) demanded.
Acacia threatened in October to use a bilateral investment treaty to force direct negotiations with Tanzania after Barrick failed to settle the row that has rumbled on for more than a year and a half.
Roşia Montană voices to be heard in illegal Romanian gold mine litigation
Businesses in the mining sector and beyond insist protection for Australian investors in Indonesia is required in a free trade deal.
A case filed by Cortec Mining Ltd and two others against the Republic of Kenya under the Kenya-UK BIT amounting to Ksh.200billion has been dismissed.
Gold Reserve Inc. received Venezuelan government bonds with an estimated current market value of approximately US$88.5 million.
Rwanda faces an international arbitration suit filed by two American firms contesting the cancellation of their mining concession.
The minister of culture says that the government has proposed the delay of the inclusion of Rosia Montana in the UNESCO World Heritage list until there is a final ruling in the case opened by Gabriel Resources against Romania.
Company is seeking $4.4bn in compensation for alleged losses related to its Rosia Montana gold and silver project, which Romania refused to approve following relentless protests.
Gabriel Resources will have to wait until late 2019 to find out whether Romania will have to pay it $4.4 billion in alleged losses related to the company’s Rosia Montana gold and silver project.
Australian mining could also benefit from reductions in Australian tariffs on European mining-related equipment and manufactures, and in European tariffs on a number of minerals and metals commodities.
After a 14-year dispute between Quiborax and the Bolivian government, the International Centre for Settlement of Investment Disputes (ICSID) rejected Bolivia’s application to annul a US$48.6mn award in favor of the Chilean mining company.