Axis International Battles for Justice in Guinea's Bauxite Mine Dispute

Axis International Ltd has initiated an arbitration at the World Bank, seeking compensation from Guinea after the country unlawfully revoked its mining rights. The dispute involves Axis's claim for USD 28.9 billion due to Guinea's termination of rights in a major bauxite mine without prior notice or compensation.

Axis International Ltd has embarked on a significant legal battle by filing for arbitration at the World Bank, seeking USD 28.9 billion from the Republic of Guinea. The move follows Guinea's abrupt cancellation of Axis International's mining rights to the nation's second-largest bauxite reserve, claiming the mines were non-operational or underutilised.

This arbitration aims to address what Axis International describes as unlawful conduct by Guinea, citing the termination as impulsive and lacking any formal dialogue or compensation. The arbitration is grounded in the bilateral investment treaty between Guinea and the UAE, along with Guinea's 1995 Investment Code, highlighting a complex international investment dispute.

Axis International, headquartered in the UAE, holds a significant stake in Axis Minerals Resources SA, which had extensively invested in the Guinean mining infrastructure. The company contends that its investments were revoked without factual basis, raising concerns over the security of international mining investments in Guinea.

(With inputs from agencies.)