International mining companies are lobbying Kabila not to sign the new code, saying the proposed changes would discourage investment and violate existing agreements. Randgold has threatened to challenge the law through international arbitration.
International mining companies, which include Randgold, Glencore and China Molybdenum, have said they will challenge the new law through international arbitration, and are lobbying Kabila not to sign it.
Pursuant to the ruling of an Irish court, Airbus A320 of Congo Airways, RDC’s new national airline company, is blocked at Dublin airport. The Congolese authorities are not excluding the hypothesis of “vulture fund subterfuge”.
La juridiction irlandaise a été saisie le 19 août par la société américaine Miminco LLC et par deux Américains. En cause : une créance d’État impayée de 10 millions d’euros à la suite d’une procédure arbitrale devant le CIRDI.
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.
Tribunals still grappling with the intra-EU question, especially those in ECT cases, are certain to pay great attention to the carefully crafted Vattenfall decision. Its reasoning may well serve as a blueprint for further decisions and awards in similar cases.
International investment agreements, specifically bilateral investment treaties and the investment chapters in free trade agreements, have come under the spotlight for what are seen as skewed provisions that grant excessive rights to foreign investors.