Business case
Our client, a Canadian exploration and gold production company, held exploration and mining licences in Central Asia and had begun operating a gold mine. The client claimed that its investment was illegally expropriated following several breaches, including the government’s failure to grant necessary operational and financing approvals, as well as the imposition of new taxes contrary to applicable agreements. The resulting arbitration, under ICSID rules.
We were appointed as independent experts to assess the damages suffered, covering both the loss of the investment and associated incremental losses. We analysed the contractual framework, collaborated closely with the client’s technical gold mining expert to build a dynamic valuation model for the operating mine, and applied various approaches to value mineral resources and exploration properties.
We submitted two expert reports and provided oral testimony during the hearings. Our modelling and valuation approach played a central role in substantiating the client’s claim. Throughout the proceedings, we provided continuous support to the legal team, contributing to the robustness and credibility of our client’s position in the arbitration.