2012
Rusoro Mining v. Venezuela Rusoro Mining Ltd. v. Bolivarian Republic of Venezuela (ICSID Case No. ARB(AF)/12/5)
Venezuela, Bolivarian Republic of
Canada
Ownership of 24 Venezuelan subsidiaries holding a total of 58 mining concessions and contracts for the exploration and exploitation of gold in Venezuela.
Claims arising out of the Government's enactment of a series of measures that allegedly dismantled the legal regime for the marketing of gold in Venezuela and culminated in the nationalisation and control of Rusoro’s investments in Venezuela without compensation.
Primary: B - Mining and quarrying
7 - Mining of metal ores
ICSID AF (ICSID Additional Facility)
ICSID (International Centre for Settlement of Investment Disputes)
Fernández-Armesto, J.
Orrego Vicuña, F.
Simma, B.
Decided in favour of investor
Decision on the Respondent’s request to address the objections to jurisdiction as a preliminary question dated 16 July 2013
2318.90 mln USD
967.80 mln USD
Direct expropriation

Indirect expropriation

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

Full protection and security, or similar

National treatment

Performance requirements

Transfer of funds
Direct expropriation

Performance requirements
Judicial review by national courts
Judicial review by national courts
Pending
https://icsid.worldbank.org/en/Pages/cases/casedetail.aspx?CaseNo=ARB(AF)/12/5
http://www.iareporter.com/articles/20130109_1 (requires subscription)
http://globalarbitrationreview.com/news/article/30710/rusoro-time-file-icsid-claim-against-venezuela/ (requires subscription)
http://globalarbitrationreview.com/news/article/30624/funder-board-new-venezuela-claim/ (requires subscription)
http://www.rusoro.com/s/News_Releases.asp?ReportID=761079
http://www.iareporter.com/articles/billion-dollar-arbitral-award-rendered-in-claim-brought-by-rusoro-mining-against-venezuela/ (requires subscription)
http://www.iareporter.com/articles/at-damages-phase-in-rusoro-v-venezuela-gold-mining-case-arbitrators-nix-dcf-comparable-companies-and-comparable-transactions-valuation-methods/ (requires subscription)
http://www.iareporter.com/articles/the-liability-holdings-in-rusoro-v-venezuela-taking-is-unlawful-performance-requirements-obligation-is-breached-counter-claims-not-permitted/ (requires subscription)
http://www.iareporter.com/articles/the-rusoro-v-venezuela-award-examining-jurisdiction-time-bar-and-illegality-allegations/ (requires subscription)
http://globalarbitrationreview.com/article/1067671/another-billion-dollar-award-against-venezuela (requires subscription)
https://www.iareporter.com/articles/analysis-paris-court-of-appeal-deemed-that-treatys-time-bar-provisions-should-have-affected-tribunals-quantum-analysis-in-billion-dollar-ruling/ (requires subscription)
https://www.iareporter.com/articles/damages-portions-of-1-2-billion-arbitral-award-against-venezuela-are-annulled-by-paris-court/ (requires subscription)
https://www.iareporter.com/articles/french-cour-de-cassation-resurrects-usd-1-6-billion-award-against-venezuela/ (requires subscription)