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Gold/Mining/Energy : PAW - Pacific Wildcat Resources Corp

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longz

From: Rocket Red	5/6/2018 11:42:43 AM
	1 Recommendation of 3422

Cortec Mining gets Attorney General Muigai’s support Fearing it could lose the ICSID arbitration procedure, Kenya should soon reinstate the Canadian mining company’s operating licence. The Kenyan Attorney General Githu Muigai, has recently sent a note, which The Indian Ocean Newsletter has seen, to the cabinet secretary for mines, Najib Balala. The note notifies Balala that he must reinstate Cortec Mining’s operating licence. Githu Muigai believes the Kenyan State stands a high risk of losing its case before ICSID, the World Bank arbitration chamber, in its dispute with the subsidiary of Pacific Wildcat Resources Corp (PAW). With President Uhuru Kenyatta almost certain to run for re-election in 2017, the attorney general wants to avoid the Kenyan taxpayer having to stump up for the colossal compensation of $2 billion that Cortec is claiming at ICSID. He encouraged Najib Balala to offer the Canadian mining company a generous revenue sharing agreement. Cortec had estimated the value of the deposit at $62 billion US.

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