Advertisement
Alamos Gold Inc has announced that its Netherlands wholly-owned subsidiaries Alamos Gold Holdings Coöperatief U.A, and Alamos Gold Holdings B.V. will file an investment treaty claim against the Republic of Turkey for expropriation and unfair and inequitable treatment, among other things, with respect to their Turkish gold mining project.
The claim will be filed under the Netherlands-Turkey Bilateral Investment Treaty, and is expected to exceed US$1 billion, representing the value of the company’s Turkish assets.
Alamos has had an active presence in Turkey since 2010. Over that time frame, the company’s Turkish operations have met all legal and regulatory requirements, complied with best practices relating to sustainable development including meeting the highest environmental and social management standards, created hundreds of jobs, and developed trusting relationships with the local communities. Alamos and the Subsidiaries have invested over US$250 million in T