stabilization clauses in mining
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- stabilization clauses in mining
However, the nature of contractual stabilization clauses has evolved in the last few decades, culminating in a variant of stabilization clauses that attempts to maintain economic equilibrium between the parties. Unlike the 'freezing' stabilization clause, the 'economic equilibrium clause' does not prohibit changes to the legal and fiscal
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Stabilization clauses are contractual provisions contained in concession agreements. In these clauses, host states undertake that they will not utilize their …
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The Federal Court of Australia has dismissed India's attempt to invoke its sovereign immunities from jurisdiction to oppose the enforcement of the UNCITRAL award issued in CC/Devas v. India (1)…
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Mining companies have also managed to reduce the risks of legislative and regulatory changes by inserting "stabilization clauses" in their contracts with host States. These clauses may be drafted in a …
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Mining companies have also managed to reduce the risks of legislative and regulatory changes by inserting "stabilization clauses" in their contracts with host States. These clauses may be drafted in a variety of forms, but the main purpose is to provide a certain level of predictability and protection to foreign investors.
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The article is about typologies of stabilization clauses in petroleum contracts, their functional values and effectiveness on protection of investment. Discover the world's research 25+ million ...
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Stabilization clauses. Stabilization clauses are widely used in the mining sector, and seek to preserve the deal between the host state and mining project participants for the life of the project by: (a) mitigating or managing the political risks associated with the project; (b) restoring economic equilibrium between parties should it be ...
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A type of stabilization clause contained in a host government agreement (HGA) or other international investment agreement between a local or host government and a foreign investor concerning a project or other investment which fixes or freezes for the term of the project, domestic legislation or regulations affecting the foreign investor and the project …
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As an alternative to carving out human rights matters from a stabilization clause, mining companies can structure stabilization clauses to apply to specific types of laws and regulations of concern. For example, the stabilization clause for a Liberian mining concession agreement limits the stabilization clause to the country's tax code and ...
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AsiaPhos v. China tribunal issues its award, with a tribunal majority seeing no scope to rule on existence of expropriation under arbitration clause limited to disputes involving the amount of compensation for expropriation
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Generally, on the one hand, stabilization clause may take a classical form of freezing provision of the law to the date of contract, or regarding the contract as a special law that is supreme to the subsequent state law.5 This classical approach of stability clause (also known as stricto sensu clause) if used in the mining and
به خواندن ادامه دهیدThese agreements often contain tax incentives that are locked in by fiscal stabilization clauses. While stabilization provisions vary, they typically freeze the fiscal terms in the law or contract at the time a project begins so that changes in tax law may not be applicable to existing investment projects, at least for a defined period of time.
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Stabilization clauses were initially designed at a time when, and in countries where, contractual arrangements constituted the norm for establishing the rights and …
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A trial for fraud and corruption in P&ID v. Nigerian Ministry of Petroleum has concluded with a Judgment, with the London High Court upholding Nigeria's challenge to the underlying awards as being…
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The need for stabilisation clauses in long-term mining agreements. Traditionally, the most acute form of political risk attending a foreign mining project has been nationalisation: the risk of the host government taking ownership of the project and evicting its foreign owner without fair compensation. However, the risk of nationalisation …
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Stabilization clauses are provisions in investment contracts that accommodate the risk of regulatory changes for investors. stabilization clause are risk mitigation tool for non-commercial risks (i.e. political, regulatory, legal and tax risks) that may have a repercussion on the economy of a contractual agreement between a host state and a foreign investor.
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Depending on the specific language of the Stabilization Clause, the Amendment Act will, undeniably have triggered the Stabilization Clauses contained in some, if not all, of the existing PSCs. Thus, the NNPC and the IOCs will, most likely commence an immediate review of the PSCs to align the terms and conditions of same, …
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NATURE OF STABILIZATION CLAUSES Early variants of stabilization clauses were intended to 'freeze', in whole or in part, the legal and fiscal regimes governing extractive projects. This objective was attained by inserting clauses in resource extraction contracts that provided that the law governing the project shall be the law of the host ...
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As put by the Mining Law Committee of the International Bar Association, the tax stabilization clause is considered as "likely the most controversial clause" in the Model Mine Development Agreement and one of the reasons is that it is "difficult to distinguish between the stabilization of tax regimes and the stabilization of other regimes ...
به خواندن ادامه دهیدSTABILIZATION CLAUSES IN ENERGY SECTOR This article deals with the importance of the stabilization clauses in the energy industry. Characterized by the important capital investments and ... 24 Henry G. Burnett, Louis-Alexis Bret, Arbitration of International Mining Dis-putes: Law and Practice, Oxford University Press 2017, 260.
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Stabilization clauses are aimed against the host state's interference with the regulatory framework of investment projects. As such they address the foreign investor's key concern for stability. ... policies and practices for the mining sector that deliver economic and social benefits and include effective safeguards that reduce social and ...
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May 31, 2022. Gas flames flaring up from an off shore oil vessel. Stabilisation clauses in petroleum contracts are posing challenges to government's reforms in the petroleum sector, despite the fact that the sector is largely derisked. An identifiable case is the current challenges facing the local content fund.
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The standard advice is that a stabilization clause should be demanded as a condition of an investment contract. The IFC/Ruggie study, which interviewed a wide range of managers and lawyers involved in investment contract negotiations, confirmed that demanding such clauses is assumed to be in the interests of shareholders.
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This Chapter focuses on the theory of internationalization of investment contracts. 3 It addresses how and to what extent substantial principles of international …
به خواندن ادامه دهیدThe concession agreements between the Government of Zambia and the mining companies contained Stabilisation clauses which constitute a promise on the part of the host government not to amend its laws in a way that adversely affects the economic rights contained within that particular concession agreement. The article examines Stabilisation ...
به خواندن ادامه دهیدIn the course of the privatization of the mining industry in the 1990s, the Zambian government approximately entered into eleven (11) development agreements with mining companies. ... Peter D. C. (2005), 'Stabilization Clauses in Investment Contracts and Changes of Rules in Host Countries: Tools for Oil and Gas Investors', Final Report of ...
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Stabilization Clauses For the purposes of this study, "stabilization clauses" are those clauses in private contracts between investors and host states that address changes in law in the host state during the life the project. Use of stabilization clauses is widespread across industries and regions of the world.
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The US District Court for the District of Columbia has denied a motion by Border Timbers to certify as "frivolous" an interlocutory appeal by Zimbabwe against an earlier ruling of the same court…
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The renegotiation clauses strike a balance between the investor and the host government. The clause tries to preserve the interests of both the parties by leaving the state's sovereignty intact and at the same time protects the investor against changes in law governing the agreement. [ 19] The renegotiation clause in an agreement allows ...
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An ICSID tribunal has been formed to hear the claims in Access Business Group (ABG) v. Mexico. The tribunal was finalized on October 20, 2023, with the parties'…
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