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International Arbitration Forum

Gabriel Resources Ltd. v. Romania (II)

Case summary

At a glance

Parties
Gabriel Resources Ltd. v. Romania
Case no.
Not stated (notice of dispute stage)
Treaty
Two bilateral investment treaties (not named in the press release)
Sector
Mining (gold and silver)
Outcome
The only published document is a press release about a notice of dispute. The documents do not show whether arbitration was started or how the dispute ended.

The dispute

Gabriel Resources Ltd. is listed on the TSX Venture Exchange (TSXV:GBU). Its majority-owned Romanian subsidiary, Rosia Montana Gold Corporation S.A. (RMGC), holds the exploitation license for the Rosia Montana gold and silver project. On 6 March 2024 RMGC asked for a five-year extension of the license term. The National Agency for Mineral Resources (NAMR) refused the extension on 20 June 2024. Gabriel says the refusal was arbitrary, contrary to Romanian law and politically motivated. It notes that the refusal came three months after its earlier ICSID arbitration against Romania ended, and that Romania had relied on the license still being valid in that case. On 5 August 2024 Gabriel announced that it had served a notice of dispute on Romania under two bilateral investment treaties.

Key holdings

  1. No decision has been published. The press release says the notice was served on the President and the Prime Minister of Romania. Service started a 90-day cooling-off period, after which Gabriel may, but need not, start arbitration. p. 2
  2. Gabriel says the earlier ICSID decision of 8 March 2024 rested in significant part on the license remaining valid. It states that the new notice does not affect its pending application to annul that decision. p. 2

Procedural history

  1. 6 March 2024RMGC asks for a five-year extension of the Rosia Montana exploitation license.
  2. 8 March 2024Decision issued in Gabriel's earlier ICSID arbitration against Romania. Gabriel is seeking its annulment.
  3. 20 June 2024NAMR refuses the license extension.
  4. 5 August 2024Gabriel announces that it has served a notice of dispute under two BITs, starting a 90-day cooling-off period.

Keywords

Summary generated with AI from the published documents — refer to the award for the authoritative text.

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