ICSID Awards Mining Firm $967 Million In Damages For Breach Of BIT

(August 25, 2016, 12:35 PM EDT) -- VANCOUVER, British Columbia — A Canadian mining company on Aug. 23 said an international arbitral tribunal has found that Venezuela breached its obligations under a bilateral investment treaty and has awarded it $967.77 million in damages, plus $1.3 billion in interest.

Rusoro Mining Ltd. said in a news release that a tribunal for the International Centre for Settlement of Investment Disputes has awarded it $967.77 million in an arbitration with Venezuela.

Arbitration

Rusoro commenced the arbitration against Venezuela on July 17, 2012, under a bilateral investment...
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