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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.
PRESS DIGEST-Canada - April 21
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Мишустину предложили повысить плату за электроэнергию
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Канадская компания Alamos Gold Inc предъявила Турции иск на сумму более $1млрд
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Alamos Gold plans $1-billion arbitration suit against Turkey over mine renewal Bookmark Please log in to listen to this story. Also available in French and Mandarin. Log In Create Free Account
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KEMAL ASLAN/Reuters
Alamos Gold Inc. says it intends to launch a $1-billion international arbitration suit against Turkey, alleging “expropriation and unfair and inequitable treatment,” after the government failed to renew a key mining license.
In October, 2019, Alamos halted construction of the Kirazli mine after the Turkish government refused to issue a seven-year renewal on its mining license. The government’s decision came after thousands of people turned out to protest the construction of the mine on environmental grounds.