The International Centre for Settlement of Investment Disputes has ordered Tanzania to pay more than $109 million to a group of companies fronted by Australian miner Indiana Resources Ltd in compensation for the controversial 2018 expropriation of a nickel mine project in Tanzania.
Air Tanzania Company Limited (ATCL) plane that was seized in the Netherlands after a Swedish firm won a $165 million award against Tanzania has been released, says the government.
Australian-based exploration company Indiana Resources has threatened to attach one of Air Tanzania’s aircraft to force the Tanzanian government to pay nearly $100 million as compensation for a failed nickel project.
Air Tanzania Company Limited plane has been seized in the Netherlands after a Swedish firm won a $165 million award against Tanzania due to revoked land title in the Bagamoyo sugar project.
La compagnie minière Montero Mining réclame 90 millions de dollars canadiens comme dommages et intérêts en réparation du préjudice causé par l’expropriation du projet de terres rares Wigu Hill en 2018.
Montero Mining and Exploration Ltd. is seeking compensation of CAD$ 90 million from Tanzania over the expropriation of the Wigu Hill Rare Earth Element Project.
Winshear Gold Corp. has filed a case at ICSID against Tanzania for the expropriation of the company’s retention licenses, claiming the country has breached its obligations under the Tanzania-Canada BIT.
Indiana Resources files a memorial on the arbitration with Tanzania over the expropriation of the Ntaka Hill Nickel Project, whereby it claims the amount of AU$127 million, including interest which continues to accrue.
Indiana argues that expropriation of its nickel project breached the investment agreement signed by Tanzanian, British and the Northern Ireland governments.