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AngloGold Ashanti, a South African mining company, announced the resolution of its International Center for Settlement of Investment Disputes with the Republic of Ghana
The Obuasi gold mine is located in the Ashanti region of Ghana. (Image Source: Khusen Rustamov / Pixabay)
The Obusai gold mine in the Ashanti region of Ghana is the subject of a dispute between AngloGold Ashanti (Ghana) Limited and the Government of Ghana since February 2016, about the claims of illegal miners infiltrated into the mine when the state withdrew military protection.
In total, illegal miners occupied a mine of more than 100 years for nearly nine months. Much precious gold has been taken and considerable damage has been done to the mine's infrastructure. In addition, many accidental deaths were reported among illegal miners
The case was registered with the International Center for Settlement of Investment Disputes on May 2, 2016. This application was eventually suspended at the following the restoration of public order. under the Minerals Commission Directive as of October 2016.
During the arbitration proceedings, Ghana raised numerous objections on jurisdictional grounds, including a request for bifurcation procedures so that objections to jurisdiction can be examined beforehand. material. This request was dismissed by the Tribunal on 17 February 2017, the applicant having filed a memorial on the merits on 7 April 2017.
Shortly after, the proceedings were suspended in order to allow the parties to explore an amicable solution the hbadle. The parties have now resolved the dispute to their mutual satisfaction and the proceedings have been discontinued.
More specifically, the Ghanaian parliament ratified the regulatory and fiscal agreements for the redevelopment of the mine into a modern, mechanized operation, marking an important step for the future of the mine and surrounding communities
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