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World Bank could hit Pakistan with $11 billion fine
Pakistan may have to pay a damages claim worth $11 billion after losing the infamous Reko Diq case to an Australian mining company.
Westwater announces acceptance of its request for arbitration
At issue is Turkey’s taking of Westwater’s Temrezli and Şefaatli uranium projects in June 2018.
Citgo settlement falters, auction plan resurfaces
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 files international arbitration request against Republic of Turkey
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.
Congo declares cobalt ’strategic’, nearly tripling royalty rate
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.
India, Gabon discuss bilateral trade, investment
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 pays miner $425 million in move to safeguard Citgo
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.
Abritration Court awards South American Silver $28 million for Malku Khota in Bolivia
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.
Sh426 billion cases filed against Tanzania in global courts
Tanzania is currently facing 13 cases on investment disputes in various international courts with $185.58 million (about Sh426 billion) demanded.
Randgold ready to mediate in Acacia’s Tanzania row before Barrick tie-up
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.
Justice for Roşia Montană!
Roşia Montană voices to be heard in illegal Romanian gold mine litigation
Miners want ISDS in Indonesia free trade agreement
Businesses in the mining sector and beyond insist protection for Australian investors in Indonesia is required in a free trade deal.
Kenya wins big in Ksh.200B Cortec Mining case
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 provides Venezuela update
Gold Reserve Inc. received Venezuelan government bonds with an estimated current market value of approximately US$88.5 million.
Rwanda faces suit over cancelled mining concession
Rwanda faces an international arbitration suit filed by two American firms contesting the cancellation of their mining concession.
It’s official: Romania’s government backs move to delay Rosia Montana inclusion in UNESCO World Heritage network
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.
Romania says Gabriel Resources $4.4bn lawsuit over halted project can’t be heard by arbitrators
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.
Results of Gabriel’s lawsuit against Romania may be known late 2019
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.
Australia-EU FTA an opportunity to remove tariffs on resources trade
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.
Bolivia ordered to make US$49mn award to Chile’s Quiborax
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.