Indiana argues that expropriation of its nickel project breached the investment agreement signed by Tanzanian, British and the Northern Ireland governments.
Kenya is set to receive Ksh300 billion after it won a case against Cortec Mining Kenya Ltd, associated with slain businessman Jacob Juma and Stirling Limited for revoking the mining license of niobium and rare earth minerals.
The battle between ConocoPhillips and Vietnam result could mark a significant shift in the way huge multinationals fight off the threat of taxes from desperate revenue authorities in developing countries.
The EU-UK agreement contains limited protections for investors and no investor-state enforcement mechanism. Its dispute resolution mechanism is limited to a “WTO-like” state-to-state arbitration.
L’Etat tanzanien et la compagnie minière devraient se retrouver devant un tribunal du CIRDI au premier trimestre 2021. La société réclame 95 millions $ au moins pour « expropriation illégale » au projet de nickel Ntaka Hill.
Indiana Resources expects to begin arbitration with Tanzania over the expropriation of the Ntaka Hill nickel project and other alleged breaches of the UK-Tanzania BIT early 2021.
As the UK regains full responsibility for its trade and investment policy post-Brexit, it must seriously consider its approach to international investment protection.
Governments around the world – including the UK – face a wave of lawsuits from foreign companies who complain that their profits have been hit by the pandemic.