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Arbitral tribunal confirms jurisdiction over Stans Energy/Kyrgyzstan case

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Arbitral tribunal confirms jurisdiction over Stans Energy/Kyrgyzstan case

An arbitral tribunal has rejected Kyrgyzstan's objections against its jurisdiction on the dispute in the case, under which Stans Energy Corp. is pursuing US$210.0 million in compensation from the Kyrgyz government.

In February 2016, Stans Energy filed a claim against the Kyrgyz Republic in the United Nations Commission on International Trade Law for damages arising from the country's termination of the mining licenses for the Kutessay II rare earth and Kalesay beryllium projects.

The attorneys for both parties will now try to reach a joint proposal for a procedural timetable, expected to be set in February, according to the Jan. 26 release.