Mining companies enjoying a period of high commodity prices and heightened demand are facing a flurry of tax hikes from governments strained by pandemic-fueled budget shortfalls. Political leaders have proposed to increase royalties and taxes in at least eight mining-heavy jurisdictions worldwide, leading some investors and companies to pause mining expansions and new projects needed .
London may recently have lost ground to Singapore, but practitioners insist it still plays a pivotal role in the world of arbitration.
‘London continues to be a tremendous success story,’ says Herbert Smith Freehills partner Craig Tevendale. ‘It remains one of the most frequently chosen seats of arbitration and, in the global context, is probably still the most popular arbitral seat of all. London is the most frequently selected seat for both LCIA and ICC institutional arbitration and is also a thriving ad hoc seat - with upwards of 1,700 new ad hoc cases commenced under London Maritime Arbitrators Association Terms alone in 2020.