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Romania Says EU Court Decision Moots $4.4B Mining Claim

Romania has told international arbitrators they can’t hear a Canadian mining company’s $4.4 billion claim over a delayed gold and silver project because a recent, groundbreaking court decision slammed the door on certain investment arbitration cases involving European Union members, according to a brief published late Tuesday.

Canadian miner Gabriel Resources Ltd. and its Jersey-based subsidiary announced in June they had launched the claim before an International Centre for the Settlement of Investment Disputes tribunal first assembled two years earlier, arguing that the country has blocked…

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Source: law360

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