Jeantet advises Montero Mining and Exploration LTD in its ICSID arbitration proceedings against the Republic of Tanzania
Paris, 12 March 2021 – Jeantet is advising Montero Mining and Exploration Ltd (Montero), a Canadian mining exploration and development company specializing primarily in the exploitation, discovery and development of mining properties, in arbitration proceedings brought against the United Republic of Tanzania (Tanzania) before the International Centre for Settlement of Investment Disputes (ICSID).
This dispute arises in the context of the withdrawal of Montero’s title to the Wigu Hill rare earths project, located 170 km southwest of Dar Es Salaam. Since 2011, Montero has undertaken substantial exploration work on this property. In 2014, economic conditions led Montero to file a Retention Licence application to safeguard its rights to the perimeter, which was granted in 2015 for five years.
In 2017, the Tanzanian government announced its intention to abolish the Retention Licence regime. In 2018, the government abruptly revoked all the Retention Licences, including the one held by Montero, and transferred the rights previously held on these perimeters to Montero.
It was under these conditions that Montero was forced to bring its dispute before the ICSID.
For the purposes of the proceedings, Montero is supported by a third party financial support, Omni Bridgeway Canada, covering the costs and expenses related to the arbitration proceedings against Tanzania.
Jeantet’s team is composed of Thierry Lauriol (partner), Capucine du Pac de Marsoulies (counsel), Martin Tavaut (counsel) and Marine Lecomte (associate).