Kazakhstan Wins $54.5 Million Legal Battle Against Canadian Investor
Photo: Elements.envato.com
A London court overturned an international arbitration ruling that ordered Kazakhstan to pay $54.5 million to Canadian company World Wide Minerals Ltd. (WWM). The legal battle between Kazakhstan and the foreign investor has been ongoing for over twenty years, Orda.kz reports.
According to Mining.com, the conflict dates back to the late 1990s, when WWM invested in Kazakhstan’s uranium industry, managing one of its largest enterprises under an investment agreement with the government.
However, Kazakh authorities later revoked WWM’s licenses, suspended its operations, and confiscated its assets, sparking a prolonged legal dispute.
In 2019, an arbitration tribunal ruled that Kazakhstan had violated international law and an Investment Treaty originally signed between Canada and the Soviet Union. The country was ordered to pay WWM over $40 million in damages plus $14.5 million in legal fees.
Kazakhstan challenged the ruling, and in November 2020, the English High Court overturned the arbitration decision and sent the case back for review. In 2025, London judges ruled in favor of Kazakhstan, rejecting WWM’s claim.
This verdict marks a major legal victory for Kazakhstan following its long-running dispute with Moldovan businessman Anatolie Stati, whose assets were seized during Nazarbayev’s tenure.
Original Author: Nikita Drobny
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