Vannessa Ventures v. Venezuela Vannessa Ventures Ltd v. Bolivarian Republic of Venezuela (ICSID Case No. ARB(AF)/04/6)
Venezuela, Bolivarian Republic of
Majority shareholding in a company holding a mining concession for gold and copper.
Claims arising out of the Government's retraction of claimant's mining rights in Las Cristinas in the south east of Venezuela, one of the world’s greatest undeveloped sources of gold, under the allegation that claimant's purchase of the shares was illegal.
Primary: B - Mining and quarrying
7 - Mining of metal ores
ICSID AF (ICSID Additional Facility)
ICSID (International Centre for Settlement of Investment Disputes)
Lowe, V.
Briner, R. (replaced)
Veeder, V. V. (replaced)
Brower, C. N.
Stern, B.
Paulsson, J. (replaced)
Decided in favour of State
1045.00 mln USD
Data not available
Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar
None - all claims dismissed at the merits stage