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Alamos Gold Set To Lodge $1B Treaty Claim Against Turkey
Law360 (April 20, 2021, 8:39 PM EDT) -- Alamos Gold Inc. said Tuesday that it will file an approximately $1 billion claim against the Republic of Turkey for expropriation and unfair treatment over a gold mining project that has met with local environmental protests and government suspension of the company's mining operating licenses.
The Toronto-headquartered gold producer said its Netherlands subsidiaries Alamos Gold Holdings Coöperatief UA and Alamos Gold Holdings BV will file the claim under the Netherlands-Turkey bilateral investment treaty, with the estimated $1 billion figure representing the value of the company's Turkish assets. The claim will be an arbitration request before the International Centre for Settlement of...