Gov’t dragged to international arbitration by AngloGold

Gov’t dragged to international arbitration by AngloGold

AngloGold Ashanti, a gold mining company, has reportedly dragged the government to the International Centre for Settlement of Investment Disputes (ICSID) to seek redress on what the company deemed as losses suffered due to the withdrawal of military personnel from its mining concessions.

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According to the Daily Graphic, the mining company is appalled at the withdrawal of the military despite an agreement to provide security which to them has resulted in losses incurred to illegal miners (galamsey).

The company resorted to the ICSID, which is based in Washington, DC and had the dispute registered as Case No. ARB/16/15 and filed on May 2, 2016.

AngloGold Ashanti (Ghana Limited) is the claimant in the case while the president of the Republic of Ghana, the minister of lands and natural resources and the Attorney-General are the respondents.

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Meanwhile, a related publication on the ICSID website indicates that a tribunal was yet to be constituted for the commencement of the case.

The company alleged that they entered into a memorandum of understanding (MoU) with the military to provide protection for its mines and equipment but the military pulled out in February this year.

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