Kazakhstan Fends Off Canadian Miner's $917M Claim

Law360 (August 4, 2020, 9:19 PM EDT) -- An international tribunal has dismissed a nearly $1 billion claim brought against Kazakhstan by a Canadian mining company following a more than 20-year-old dispute stemming from a soured deal to operate gold mines in the country, Kazakhstan's justice ministry said.

The tribunal ruled unanimously to reject the $917 million claim lodged by Gold Pool JV Ltd., which had been charged in 1996 with managing a company called Kazakhaltyn JSC, according to a Monday announcement from the justice ministry. That company held the rights to operate gold mines in the country before the contract was terminated a year later.

The tribunal concluded...

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