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Sundance and Congo Iron v. Congo, Claimant's Press Release, December 16, 2020

16 Dec 2020
Sundance Resources Limited and Congo Iron SA v. Republic of Congo, ICC Case No. 26145/DDA/AZO (C-26344/AZO)
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Claimant's Press Release
Document Details:
LISTED PARTICIPANTS
Claimant's Press Release
Participants listed are for this document only and may not include all participants involved in the entire case. Always consult the original documents.
Claimant appointee
Respondent appointee
Tribunal/Panel chair
Arbitrator(s)
Sole Arbitrator
ICSID Annulment Committee president
ICSID Annulment Committee members
WTO Appellate Body members
WTO Appellate Body chair
Judges
Claimant's counsel
Claimant's law firm
Respondent's counsel
Respondent's law firm
Other counsel
Claimant's expert
Claimant's expert firm
Respondent's expert
Respondent's expert firm
Claimant's witness
Respondent's witness
Other witnesses
Tribunal secretary
Tribunal assistant
Third-party funder
Entities
Sundance Resources Limited, Congo Iron SA, Clifford Chance, Congo, Cameroon
Country
Print reporter
Document Summary
Claimant's Press Release
This summary note is machine-generated. Always consult the original materials.

Procedural Posture

This document is a public market announcement issued by Sundance Resources Limited on 16 December 2020, detailing the formal service of Notices of Dispute against the Republic of Congo and the Republic of Cameroon. The notices trigger the mandatory 60-day negotiation periods under the respective investment agreements, serving as a precursor to international arbitration proceedings before the International Chamber of Commerce (ICC).

Factual and Legal Basis of the Disputes

The dispute with the Republic of Congo arises from a November 2020 presidential decree purporting to withdraw the mining permit held by Sundance’s subsidiary, Congo Iron. The claimant asserts that this withdrawal constitutes an unlawful expropriation and a grave violation of due process, breaching the 2014 Mining Convention. The prospective ICC arbitration against Congo would be seated in London.

Concurrently, the dispute with the Republic of Cameroon concerns the State's failure to issue an implementing decree to perfect an exploitation permit deemed granted to Sundance’s subsidiary, Cam Iron, in 2009. The claimant alleges this omission breaches the 2015 Transition Agreement. The prospective ICC arbitration against Cameroon would be seated in Paris.

Strategic and Operative Developments

Sundance has retained Clifford Chance as international dispute resolution counsel and is actively seeking third-party litigation funding to finance the anticipated arbitrations. Furthermore, as a direct consequence of the expropriation of its core assets, the company announced its impending delisting from the Australian Securities Exchange (ASX) and ongoing restructuring negotiations with noteholders.