AVZ is pleased to report, on 15 November 2023, the ICC emergency arbitrator ordered that:
1. Cominière must not take any steps to explore and exploit, directly or indirectly, within the perimeter of PR 13359 and PR 15775 until such time as the ICC tribunal in charge of determining the validity of the termination of the Dathcom JVA hears this issue;
2. Cominière pay a fine of €50,000 per day for any non-compliance with the order in paragraph 1; and
3. Cominière must pay the ICC's administrative costs and part of the legal costs of AVZ's subsidiaries.
The ICC emergency arbitrator also refused Cominière's request to set aside the emergency order dated 5 May 2023. Accordingly, the latest €50,000 daily penalty is in addition to the original €50,000 daily penalty in respect of the first emergency order against Cominière dated 5 May 2023. In light of Cominière's conduct to date, AVZ notes the original €50,000 daily penalty continues to accrue. Among other findings, the ICC emergency arbitrator:
- concluded Cominière had deliberately concealed it had sought and obtained a ruling from the Kalemie High Court in the DRC on 3 May 2023 in respect of the purported dissolution of Dathcom; and
- indicated Cominière's position on the termination of the Dathcom JVA was seemingly based on an erroneous interpretation of Article 18.3 of the Dathcom JVA.
- OGEL: Congolese Mining Company (Cominière) - Dathcom Mining SA - Green Lithium Holdings Pte Ltd v AVZ International Pty Ltd - ICC Arbitration Case No 27720-SP-ETT-EA - Emergency Relief - 15 November 2023
- TDM: Congolese Mining Company (Cominière) - Dathcom Mining SA - Green Lithium Holdings Pte Ltd v AVZ International Pty Ltd - ICC Arbitration Case No 27720-SP-ETT-EA - Emergency Relief - 15 November 2023