Falcon pursues $100m arbitration claim against Guinea over graphite project
TSX-V-listed Falcon Energy Materials has initiated international arbitration proceedings seeking $100-million in damages from Guinea over the 2025 expropriation of its Lola graphite project.
The company has filed a request for arbitration with the International Centre for Settlement of Investment Disputes (ICSID), part of the World Bank, under the bilateral investment treaty between the United Arab Emirates and Guinea.
Falcon claims the Guinean government unlawfully revoked the project’s exploitation licence in May 2025 and failed to provide compensation, prompting the legal action.
“While we regret that legal proceedings have become necessary, we are fully prepared to present our claim for compensation in arbitration, encompassing both the loss of the company’s assets in Guinea and the additional damages arising from the actions of the government of Guinea," said CEO Matthieu Bos.
"Following our recent capital raise, the company has secured full support from its shareholders to pursue this case as well as sufficient funding to cover all legal costs, and we remain confident that shareholders’ interests are protected. We will continue to refine our claims as part of the arbitration process while we keep our focus firmly on the development of our anode plant in Morocco.”
The Lola project will provide feedstock to the Morocco anode plant.
The arbitration is being conducted under the ICSID Convention, which allows awards to be enforced across its 150-plus member States.
The company has appointed international law firm LALIVE to represent it in the proceedings.
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