In September 2014, BSG Resources Limited initiated an international arbitration proceeding against the Republic of Guinea arising out of an alleged expropriation of its investment in the mining sector in the country.
The multinational mining company started its operations in Guinea in 2006 and in 2013 it was granted mining licenses to explore and exploit mines at the Simandou and Zogota sites. The dispute involves the alleged rescission of the company's mining licenses due to accusations of corruption by the new Government in Guinea.
The arbitration is being administered by the International Centre for Settlement of Investment Disputes (ICSID) in Washington D.C. The case stands out for being the first publicly available ICSID case where the UNCITRAL Rules on Transparency in Treaty-based Investor-State Arbitration were voluntarily opted-in by the parties to the arbitration.
Click here to read more.
No comments:
Post a Comment