AVZ Discussion 2022
- Thread starter GazDix
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Just a minor point:This requires an official announcement from AVZ to explain the exact reason for and duration of the suspension. Right after Nigel works out how much cash bonus he receives for doing his fucking job obvs
Chapter VIII: Suspension, Settlement and Discontinuance | ICSID
icsid.worldbank.org
Rule 54: Suspension of the Proceeding
(1) The Tribunal shall suspend the proceeding by agreement of the parties.
(2) The Tribunal may suspend the proceeding upon the request of either party or on its own initiative, except as otherwise provided in the ICSID Administrative and Financial Regulations or these Rules.
(3) The Tribunal shall give the parties the opportunity to make observations before ordering a suspension pursuant to paragraph (2).
(4) In its order suspending the proceeding, the Tribunal shall specify:
(a) the period of the suspension;
(b) any relevant terms; and
(c) a modified procedural calendar to take effect on resumption of the proceeding, if necessary.
(5) The Tribunal shall extend the period of a suspension prior to its expiry by agreement of the parties.
(6) The Tribunal may extend the period of a suspension prior to its expiry, on its own initiative or upon a party’s request, after giving the parties an opportunity to make observations.
(7) The Secretary-General shall suspend the proceeding pursuant to paragraph (1) or extend the suspension pursuant to paragraph (5) if the Tribunal has not yet been constituted or if there is a vacancy on the Tribunal. The parties shall inform the Secretary-General of the period of the suspension and any terms agreed to by the parties.
The DRC just elected a new president and the way I understand it, the current DRC government is an Interim Government and until the new government has been appointed, the current operators can only make decisions based on steady as she goes, without major decisions.
The DRC could have used this as an argument to throw an other spanner in the wheel.
Yeh I probably should have kept that private, now the trolls will be wondering if they can use it to feed panic.
I only used it to remind the ICC, ICSID and World Bank. My personal view is the DRC aren’t looking the other way, they’ve been embarrassed by this debacle and trying to negotiate their way out of the mess they created. On top of that I don’t think the new ministry has been sworn in yet.
You know what gets me, for the last two years winger’s and whiner’s were complaining about not getting announcements. We have had multiple announcements, many of which a lot of fuckers couldn’t even wrap their heads around, and it looks like it’s on again
That’s the last post here from me mate
Remark
Top 20
Johnno is a legend
https://x.com/jonnnono/status/1754831245492506917?s=20
Celestin/Alain @cominiere are arcing up again although they seem a little more subdued. I'm pretty sure the got a "pull your head in" from someone higher up. They need to be poked a little more to illicit a response IMO.
https://x.com/jonnnono/status/1754831245492506917?s=20
Celestin/Alain @cominiere are arcing up again although they seem a little more subdued. I'm pretty sure the got a "pull your head in" from someone higher up. They need to be poked a little more to illicit a response IMO.
Frank
Top 20
Thanks Bro, I can Count on you
Looks like things are Heating Up in the DRC with the United States & Japan still taking a keen interest in their Critical Minerals atm, as
The USA announces an agreement between GECAMINES and JOGMEC
The USA, which leads the Mineral Security Partnership (MSP), announced Monday, February 5, 2024, the signing of a memorandum of understanding between the Générale des Carrières et des Mines (GECAMINES) of the DRC and the Organization Institute for Metals and Energy Safety (JOGMEC) of Japan on the exploration, production and processing of critical minerals.
Critical minerals are essential to the global economy and the technologies that power the clean energy transition.
According to the US Department of State, this MoU will create a framework for cooperation in the areas of mining and mineral resources with the aim of expanding business opportunities for the parties.
“This landmark collaboration, forged through dialogue between MSP partners, creates a framework for coordination in the exploration, production and processing of minerals, in line with our shared commitment to the development of the Lobito Corridor through the Partnership.
For Global Investment Infrastructure (PGI),” Washington announced in a statement, stressing that coordination among MSP partners is a powerful demonstration for securing and diversifying supply chains for essential minerals, which bring economic benefits to local communities and source countries such as the DRC.
The USA has also specified that GECAMINES will be a key player in the Lobito Corridor project “thanks to its large portfolio of joint venture projects in production, representing more than 1.5 million tonnes of copper cathodes and 100,000 tons of cobalt hydroxide and more to be put into service on projects under construction.
The MSP is a collaboration of 13 countries and the EU aimed at catalyzing public and private investment in responsible supply chains of critical minerals globally.
Its partners include Australia, Canada, Finland, France, Germany, India, Italy, Japan, Norway, the Republic of Korea, Sweden, the United Kingdom, the United States United and the European Union (represented by the European Commission).
The goal of the Mineral Security Partnership is to accelerate the development of diversified and sustainable supply chains of critical energy minerals by working with host governments and industry to facilitate targeted financial and diplomatic support for strategic projects throughout the along the value chain.
mediacongo
Next Stop Manono, who No Knows
Toot Toot
Talk about
Food for thought
Frank
Frank
Top 20
Jonnno for President / Prime Minister
Cumquat Cap
Regular
Deal between USA and Gecamines/Japan is a significant deal - no way USA is going to build the Lobito Corridor if Zijin is the beneficiary?
Thanks for Sharing Franck I shared it across on crapper hope you don't mind
Thanks for Sharing Franck I shared it across on crapper hope you don't mind
Agreed. More West input the better.
Im having a guess here but perhaps DRC asked AVZ to suspend the ICSID as they are now willing to negotiate.
We've absolutely roasted Nigel before ( ill put my hand up and say me included ) for saying things will happen and then they dont. So if he announced now that there are negotiations underway and nothing comes of it then he'll be roasted again. He already has former share holders trying to sue him, im sure he doesnt want to give these bastards any more ammo.
Its a damned if you do damned if you don't scenario
We've absolutely roasted Nigel before ( ill put my hand up and say me included ) for saying things will happen and then they dont. So if he announced now that there are negotiations underway and nothing comes of it then he'll be roasted again. He already has former share holders trying to sue him, im sure he doesnt want to give these bastards any more ammo.
Its a damned if you do damned if you don't scenario
Doc,
As we all know things are very fluid in the DRC - one minute you have an agreement the next minute you dont - no fault of Nigel or the Board for how the DRC conducts their business and their ethics.
Nigel and his team have done an excellent job in keeping us in the game.
Regards,
SilentOne
Carlos Danger
Top 20
An announcement should be made at least in regards to who initiated the suspension. What's material is whether it was done under agreement by the parties, request by either of the parties or by the initiative of the ICSID.
My bet is the DRC have failed to pay their share of the required advances outlined in Administrative and Financial Regulations 14 & 15 and an amount (most likely the full amount lol) is still owed 15 days after they received notice under Administrative and Financial Regulation 16(2)(a) so the proceedings have been suspended by the ICSID under 16(2)(b)
Suspension, Settlement, and Discontinuance - ICSID Convention Arbitration (2022 Rules) | ICSID
The proceeding may be suspended or discontinued by agreement of the parties or upon the request of a party (Arbitration Rules 54-56).
Discontinuance for Lack of Payment of Required Advances (ICSID Administrative and Financial Regulation 16)
Except in annulment proceedings, both parties are responsible for paying the advances to meet the costs of the proceeding unless the parties agree otherwise (Administrative and Financial Regulation 15(1)). Failure to do so may lead to the discontinuance of the proceeding.
If the amounts requested are not paid in full within 30 days of a request, the Secretary-General informs both parties of the default and gives either of them an opportunity to make the outstanding payment (Administrative and Financial Regulation 16(2)(a)).
If any part of the required payment remains outstanding 15 days after notice of default is given, the Secretary-General may suspend the proceeding until payment is made, after giving notice to the parties and the Tribunal (Administrative and Financial Regulation 16(2)(b)).
If any proceeding is stayed for non-payment for more than 90 consecutive days, the Secretary-General may discontinue the proceeding, after giving notice to the parties and the Tribunal (Administrative and Financial Regulation 16(2)(b)).
D
Deleted member 2378
Guest
You’re fucking dumb. Read the stupid ICSID rules. It stated there crystal clear. If you have not enough braincells to understand what you read I can’t help you. Of course it’s possible both agreed because of negotiations. But the shithole of DRC never did anything in our favor yet, thats my opinion that it’s more likely they use it to delay. Jesus, use the few cells that are left. Of course the DRC will kick out zijin immediately, who paid hundreds of millions of bribe money to give the complete license to a little Australien company. Because the DRC learned after years….maybe they should start to be the good guys? I saw santa last year, didn’t helped with my wish, must be the fact because I’m a Chinese spy troll.
And of course nothing would be sorted if the management resigned, what a stupid answer. Then they would throw us out of the window like the poor belgian soul from the votings. I believe the management underestimated the corruption, if we had give them something back at a earlier stage not the nuclear stage we have right now, then I think we would have a deal and could continue. But who fuckin knows, if you haven’t a Time Machine we will never find out.
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So in other words stall and delay tactics ?An announcement should be made at least in regards to who initiated the suspension. What's material is whether it was done under agreement by the parties, request by either of the parties or by the initiative of the ICSID.
My bet is the DRC have failed to pay their share of the required advances outlined in Administrative and Financial Regulations 14 & 15 and an amount (most likely the full amount lol) is still owed 15 days after they received notice under Administrative and Financial Regulation 16(2)(a) so the proceedings have been suspended by the ICSID under 16(2)(b)
Suspension, Settlement, and Discontinuance - ICSID Convention Arbitration (2022 Rules) | ICSID
The proceeding may be suspended or discontinued by agreement of the parties or upon the request of a party (Arbitration Rules 54-56).icsid.worldbank.org
Discontinuance for Lack of Payment of Required Advances (ICSID Administrative and Financial Regulation 16)
Except in annulment proceedings, both parties are responsible for paying the advances to meet the costs of the proceeding unless the parties agree otherwise (Administrative and Financial Regulation 15(1)). Failure to do so may lead to the discontinuance of the proceeding.
If the amounts requested are not paid in full within 30 days of a request, the Secretary-General informs both parties of the default and gives either of them an opportunity to make the outstanding payment (Administrative and Financial Regulation 16(2)(a)).
If any part of the required payment remains outstanding 15 days after notice of default is given, the Secretary-General may suspend the proceeding until payment is made, after giving notice to the parties and the Tribunal (Administrative and Financial Regulation 16(2)(b)).
If any proceeding is stayed for non-payment for more than 90 consecutive days, the Secretary-General may discontinue the proceeding, after giving notice to the parties and the Tribunal (Administrative and Financial Regulation 16(2)(b)).
100%, that's what I was saying. Damned if you do damned if you don't. Things change there in an instant
So whats the upside for the side paying? DRC stop paying and after 90 days the Sec-General can discontinue the proceedings? Does judgment default to the side that is up to date?An announcement should be made at least in regards to who initiated the suspension. What's material is whether it was done under agreement by the parties, request by either of the parties or by the initiative of the ICSID.
My bet is the DRC have failed to pay their share of the required advances outlined in Administrative and Financial Regulations 14 & 15 and an amount (most likely the full amount lol) is still owed 15 days after they received notice under Administrative and Financial Regulation 16(2)(a) so the proceedings have been suspended by the ICSID under 16(2)(b)
Suspension, Settlement, and Discontinuance - ICSID Convention Arbitration (2022 Rules) | ICSID
The proceeding may be suspended or discontinued by agreement of the parties or upon the request of a party (Arbitration Rules 54-56).
Discontinuance for Lack of Payment of Required Advances (ICSID Administrative and Financial Regulation 16)
Except in annulment proceedings, both parties are responsible for paying the advances to meet the costs of the proceeding unless the parties agree otherwise (Administrative and Financial Regulation 15(1)). Failure to do so may lead to the discontinuance of the proceeding.
If the amounts requested are not paid in full within 30 days of a request, the Secretary-General informs both parties of the default and gives either of them an opportunity to make the outstanding payment (Administrative and Financial Regulation 16(2)(a)).
If any part of the required payment remains outstanding 15 days after notice of default is given, the Secretary-General may suspend the proceeding until payment is made, after giving notice to the parties and the Tribunal (Administrative and Financial Regulation 16(2)(b)).
If any proceeding is stayed for non-payment for more than 90 consecutive days, the Secretary-General may discontinue the proceeding, after giving notice to the parties and the Tribunal (Administrative and Financial Regulation 16(2)(b)).
Carlos Danger
Top 20
Just a guess by me. But I doubt it is suspended because of negotiations as they can happen without the need to suspend proceedings eg the much hyped but called a smokescreen by me MoU. And I can't see AVZ agreeing to any form of suspension unless a deal is done in which case the proceedings should go into discontinuance or possibly a final award recorded acknowledging the deal.
So for me that only really leaves an issue with one of the arbitrators or some type of ratfuckery by the DRC as the most likely reasons for suspension. Whatever has happened let's hope we get an official announcement by the company soon to explain what the fuck is going on.
Remark
Top 20
Stock Swami seems to be on our side. I'm not sure if that's a good or bad thing, I can't recall...
https://x.com/stockswami/status/1755048387668480113?s=20
https://x.com/stockswami/status/1755048387668480113?s=20
Xerof
Biding my Time 1971
Stockswami - He's looking at a page on a website that hasn't been updated for months if not years, (and @Remark it's probably a bad thing)
Another point - our case at ISCID is with DRC, not Cominiere, so those two dickheads can carry on saying whatever they like - they are not in the loop, and can continue to pull our collective tits
Another point - our case at ISCID is with DRC, not Cominiere, so those two dickheads can carry on saying whatever they like - they are not in the loop, and can continue to pull our collective tits
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