The arbitration arises from Venezuela’s measures that deprived GR Mining of its rights to, and materially damaged its investment in, the multi-billion-dollar Siembra Minera mining project located in Venezuela.
Investor-State Dispute Settlement has become a significant concern for African nations, as it often privileges multinational corporations at the expense of local governance and public welfare.
Montero confirms that US$7,000,000 in cash have been received by the Company from Tanzania, which is expected to put an end to the dispute in connection with Tanzania’s expropriation of Montero’s Wigu Hill rare earth element project.
Kazakhstan has overturned a $54.5 million arbitral award previously granted to World Wide Minerals Ltd., a Canadian junior miner, in relation to a terminated uranium processing project.
Amidst all the chaos brought on by Trump’s tariff threats, Canada’s federal trade minister celebrated a minor win this month: the finalization of a trade agreement with Ecuador.
The new bilateral investment treaty between India and the United Arab Emirates clarifies concerns around enforcing investor-State awards in India—at least for this BIT.