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Barrick Gold reaches deal with Tanzania over Acacia Mining
Barrick Gold Corp said it had reached a deal to settle a long-running tax dispute between Tanzania and mining group Acacia.
Reko Diq challenge: government looking for out-of-court settlement
The Adviser to Prime Minister on Finance and the Attorney General for Pakistan are meeting with the company’s board.
Ricardo Salles to meet with European chemical and car giants
Leaked agenda shows Brazil’s environment minister will meet with BASF, Bayer, VW and British fossil fuel and mining interests.
Weapons of legal destruction: ISDS lawsuits and Lydian International’s assault on Armenian sovereignty
The signing of an investment treaty involves a unilateral loss of sovereignty on the part of the host state, which is ultimately deemed necessary to attract foreign capital.
Reko Diq, Karkey cases: Pakistan to challenge verdicts of ICSID: Omar
Pakistan government is going to challenge the verdicts of International Centre for Settlement of Investment Disputes (ICSID), said Minister for Power Division.
Glencore awarded just $19 mln by tribunal in Colombia lawsuit
A World Bank tribunal has ordered Colombia to repay a $19 million fine it levied on Glencore’s coal mining subsidiary Prodeco.
Lydian’s gold project in Armenia faces yet another environmental review
Lydian International’s Amulsar gold project in Armenia may have to go through a fourth environmental review in less than a year.
Multi-billion dollar fine on Pakistan puts the spotlight on a secret court
The Reko Diq mine case shows the overreach of a secretive arbitration system.
Armenia gives go-ahead to gold mine blocked by green activists
Lydian had threatened to go to arbitration if forced to shut it down.
Stans Energy won the arbitration
The tribunal determined that Stans prevailed on jurisdiction and on the merits of its claim, awarding Stans a sum of approximately US $24 Million inclusive of damages, interest, and costs.
TCC moves US court for enforcement of $6bn award in Reko Diq case
Tethyan Copper Company (TCC) has approached a court in the United States for enforcement of US$6 billion penalty imposed on Pakistan
’Govt trying to hand over Reko Diq to TTC again’
TCC is trying to use the $5.9 billion ICSID penalty to scare the Balochistan government into giving it the Reko Diq project.
Reko Diq controversy
In June 2000 the government in power signed a joint venture with Pakistan getting 25% and BHP getting bulk 75%. It was in violation of the internationally established practice of sharing half revenues.
More precious than gold: community resistance v corporate courts
UK registered mining company Lydian is using corporate courts to bully the Armenian government into cracking down on public protests that have successfully resisted a gold mine.
If a no-deal Brexit happens, mega corporations could sue the government for billions in secret courts
The Armenian government is currently being sued by a corporation for two thirds of its entire government budget. If the UK crashes out on 31 October, it could suffer a similar fate.
ReqoDiq Case II: Defending the Supreme Court
It is astounding that the Supreme Court judgment is being criticised due to an unfair award by the ICSID tribunal against Pakistan when that judgment is completely defensible.
The lessons of Reko Diq
The question for Pakistan now is what lesson can be learned from events that led to the ICSID Tribunal making a $5.9 billion award against the Government of Pakistan.
Reko Diq Case I: an indictment against ICSID
Pakistan has suffered at the hands of an unaccountable and defective dispute resolution mechanism at the hands of the ICSID, and following the examples of India, South Africa and Brazil, should never have become a part of the ICSID.
World Bank ruling against Pakistan shows global economic governance is broken
Abolishing ISDS won’t solve all of the problems of global economic governance. But it seems a very good place to start.
Pakistan and World Bank Settlement of Investment Disputes – Do not pay the unfair fine; oppose the unjust decision of ICSID
This is a story of the dodgy deal by a multi national company and then earning massive amount of money through a World Bank institution acting against developing countries.