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: 10 Nov 2012 | Removal date: open ended
Still in force

FDI: Treatment and operations, nes

On 10 November 2012, the concessions and permits for the London-based company Minera Loma de Niquel belonging to Anglo American Plc expired and won't be renewed. Instead, the government will take control over the site under its state-owned oil and gas company.
 
In 2014, Anglo American started to seek compensation and stated that "'it' considers that certain measures taken by the Government of Venezuela in relation to the Company's investment in Loma, including the expropriation of Loma's assets without prompt, adequate and effective compensation, constitute breaches by Venezuela of its obligations under the Treaty,'

AFFECTED COUNTRIES

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