Invoking the Australia-Poland bilateral investment treaty, together with the Energy Charter Treaty, Green X has been awarded hundreds of millions of dollars over a thwarted mining project.
62 Australian lawyers and legal scholars have issued an open letter urging the Australian government to swiftly implement its policy of excluding Investor-State Dispute Settlement provisions from current and future trade and investment agreements.
Some international trade agreements allow foreign investors to sue the Australian government if a change in law or policy reduces their profits, even if the change protects public health or the environment.
Indiana Resources is closer to recovering its historical sunk investment for the unlawful expropriation of the Ntaka Hill nickel sulphide project after the ICSID struck out most of Tanzania’s grounds for requesting the annulment of the award.
Panthera, a gold exploration company with assets in India, said that its subsidiary Indo Gold Pty Ltd had issued a notice of dispute to the Indian government over the latter’s breach of the 1999 Australia-India bilateral investment treaty.
Tanzania has made a commitment to pay Australian mining firm Indiana Resources Limited and its subsidiaries $118 million if the country loses in the final decision of the annulment application.
Clive Palmer’s controversial legal strategies challenge Australia’s trade agreements and environmental laws, and have profound implications for global climate action.