AVZ Discussion 2022
- Thread starter GazDix
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Samus
Top 20
I thought it was Zijin 12b - damages. And a separate buyer $12.12 billion.....if Zijin is the buyer
Never forget the "fuck you" premium
everyone was drinking tap water cause funds were frozen
Mate, I am unsure why nobody wants the ICSID arbitration to proceed. Nothing has worked to date, AVZ is ignored by the DRC govt, the ICC seems a bit insipid, and the impasse remains. As we are acutely aware, the DRC govt, its agencies and the judiciary are corrupt to the core. And Chinese miners are complicit in this corruption. As a result, AVZ is cornered and faced with endless shitfuckery as it defends its ownership of Manono.
From my perspective, it's a good thing that AVZ is calling out the DRC govt and its agencies through this process. On the available evidence, particularly the IGF report, road-blocking by CAMI and arbitrary ministerial decision-making, AVZ seems to stand a good chance of a favorable outcome. While it may take a while to unfold and finalise, ICSID arbitration carries a big stick. For instance, it's awards (decisions) are binding and enforceable, and not subject to appeal in any international or domestic court. That means that the DRC and its agencies cannot appeal to a friendly domestic court if they lose, and Zijin cannot bribe its way to a favorable decision.
In addition, there is no binding precedent, which means that the DRC cannot rely on previous awards made in other cases in its defence, and also cannot rely on diplomatic immunity to avoid compliance with an award.
Having said all that, I agree with you that a negotiated settlement prior to arbitration is a strong possibility.
Cheers
F
Probably because ICSID is going to take a long time. And although we are confident, the outcome is not guaranteed. They may also be ordered to pay back what has been spent and tell us to move on. Unlikely but who can say that won't happen.
A takeover that could yield a better result and be done within months is better than waiting years for an unknown result.
Agree that nothing has worked, and ICSID is a good move.
Flight - Great Summary - Fully agree with your perspective
David Krappenschitz
Regular
Interesting. So would this mean that in the unlikely scenario of unfavourable ICC rulings, any ICSID ruling would override any /all of the ICC cases?
My understanding is that the ICC arbitrations involve different parties, different issues, and subsequent remedies would be different. Only the ICSID claim names the DRC government as a respondent.
Cheers
F
John25
Regular
Ok ok ok …it’ll be nice just too see either Nigel /Ben or John on the ground in Manono …dont want ins or outs of whats going on …maybe a few selfies near the Manono sign or with locals just too prove they’re on the ground doing fucking something in the vicinity …its not too much …is it ?????
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Uglybob
Regular
Well put Flight.
Sounds like the BoD's hand has been forced because no matter what they do, Felix the Impotent refuses to come to the party or do anything about the unprecedented corruption the "worlds best BoD(tm)" are fighting. They can keep filing paperwork hoping for an outcome they have now realised may never come, or they take it to the courts. Even though it may take time, the court route does have a finite timeline so it's still likely to yield results faster than just waiting for DRC to do their thing, which has taken almost 60 weeks so far.
Sounds like the BoD's hand has been forced because no matter what they do, Felix the Impotent refuses to come to the party or do anything about the unprecedented corruption the "worlds best BoD(tm)" are fighting. They can keep filing paperwork hoping for an outcome they have now realised may never come, or they take it to the courts. Even though it may take time, the court route does have a finite timeline so it's still likely to yield results faster than just waiting for DRC to do their thing, which has taken almost 60 weeks so far.
Retrobyte
Hates a beer
Because winning against the DRC Government in an international court case will not create a very pleasant relationship with them for building a mine and processing plant in the DRC and continuing to do business in the country in the years ahead. The ICSID case is a lever, and the case won't proceed to arbitration. To do so would be the end of the line for AVZ in the DRC, win or lose.
Azzler
Top 20
No one has proof of anything Mr. Wombles, some appear to have access to people close to the guys in charge however, and unless it's official from the Horses mouth, all info has always been rumors, speculation and word of mouth with no proof.
I think those sharing information are sworn to secrecy, and keeping their groups tight.
And it's gone very quiet because serious battles are going on.
I've been hearing some things from different directions, and they're matching up.
Wheels do appear to be in motion. Time frame maybe not that long, but who the hell really knows.
ICSID appears to have given AVZ a far more powerful position to negotiate.
A boss move as it turns out, and not reactionary from a position of weakness as many first thought.
Court cases, in my opinion don't even need to play out.
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Carlos Danger
Top 20
Mines fucked been on ice for 18 fucken months. So fuck the champagne until I'm out of this complete and utter fuck up.
The US announced new sanctions targeting the Wagner Group’s gold mining activities in Africa as part of a bid to hamper the mercenary group’s ability to fund itself, days after it mounted a mutiny against President Vladimir Putin’s forces.
Listen to this article
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1X
BeyondWords
The sanctions targeted Midas Ressources, a mining company in Central African Republic affiliated with Wagner leader Yevgeny Prigozhin, the Treasury Department said. Also targeted was Diamville, a gold and diamond purchasing company controlled by Prigozhin, Treasury said.
Tuesday’s action was the latest in a string of sanctions imposed on the Wagner Group and Prigozhin by the US and its allies in recent years. A person familiar with the US stance, who asked not to be identified discussing internal deliberations, said the action had been planned well before Prigozhin’s forces launched the mutiny over the weekend. The US has sought to avoid taking sides in the conflict between the Kremlin and the mercenary chief.
Two other companies and a Russian national identified as a Wagner Group executive were also targeted Tuesday.
“Treasury’s sanctions disrupt key actors in the Wagner Group’s financial network and international structure,” Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian Nelson said in a statement.
Could the US do the same to Zijjin for illegal activities.
Frank
Top 20
*Oh the Irony of it all, So much so ya gotta Laugh when you see and read that Shit imo
When Jules Alingete and his Team from the IGF have gathered in the Felix Tshisekedi amphitheater,
To discuss progress in the Fight against Corruption of all places
Talk about a bit close to home
Not to mention who he tags
None other than B1 & B2
The DRC is truly Bananas
Food for thought
Frank
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