Bates White client Republic of Türkiye defeats bulk of claimant’s allegations in ICSID mining matter
Glenn R. George and Anna Meyendorff were retained on behalf of the government of Türkiye, the respondent in Westwater v. Republic of Türkiye, in an international arbitration matter under ICSID rules. The claimant, a US-based mining company, alleges that, in rescinding seven uranium exploration and operating licenses for the Temrezli and Sefaatli uranium mining projects, the government of Türkiye created a state monopoly over uranium mining activities in the country and caused financial damages for the American owner of those mining projects pursuant to the Türkiye-US Bilateral Investment Treaty of 1985.
Drs. George and Meyendorff submitted expert reports and delivered oral testimony. In ruling in favor of the Republic of Türkiye, the tribunal rejected Westwater’s claim based on lost profits and found that Westwater was entitled to be compensated only for “investment costs,” which Türkiye acknowledged must be paid by virtue of the license rescissions irrespective of Westwater’s prospects of bringing the uranium project to a successful conclusion. The award cites Drs. George and Meyendorff’s testimony multiple times.