Chairperson appointed in South American Silver arbitration proceedings
TORONTO (miningweekly.com) – A chairperson has been appointed to the three-person arbitration tribunal in the international arbitration case between South American Silver (SAS) and the Bolivian government.
TSX-listed SAS on Monday said it was a critical step forward in the dispute stemming from acts of the Bolivian government, including the issuance of Supreme Decree No 1308 on August 1, 2012, which revoked without compensation mining concessions held by Compañía Minera Malku Khota, a fully owned subsidiary of SAS, and the Malku Khota silver/indium project.
SAS said it was a protected investor under the bilateral investment treaty between the UK and Bolivia, and the actions of the Bolivian government were in violation of that treaty and of international law.
Bolivia had been involved in over 15 ‘nationalisations’, the majority of which took place after President Evo Morales came to office. A number of the cases had reached negotiated settlements and at least five others were pending.
“Substantive advances in the process are expected in 2014, with a major step forward being the expected submittal of SAS’s statement of claim. Following this, Bolivia will submit its statement of defence and each party will have the opportunity to reply to each other's submissions.
“There will then be an oral hearing in front of the Arbitration Tribunal. It is expected that the arbitration could take up to several years from commencement of proceedings until rendering of a final award; hence, any actual cash award, if there is one, would not be expected for some time and not in 2014,” SAS founder Ralph Fitch, who was in December reappointed as president and CEO, said.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Iritron delivers advanced automation, control, and optimisation solutions to the Mining, Minerals & Metals, Consumer Package Goods and...
VISIT SHOWROOM
ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
