IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 03 Feb 2011 | Removal date: open ended
Still in force

FDI: Treatment and operations, nes

On February 3, 2011, the Corporacion Venezolana de Guayana (the Venezuelan state agency in charge of natural resources in the southeast of the country) unilaterally terminated the mine operating contract of the Canadian mining company Crystallex International Corporation for the Las Cristinas gold mining project.
Crystallex announced on February 16, 2011 that it would bring the case to the International Centre for the Settlement of Investment Disputes (ICSID, ICSID Case No. ARB(AF)/11/2). The mining firm seeks a restitution of its investments or compensation in excess of USD3.8 billion.

AFFECTED COUNTRIES

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