|
GreenX Metals Ltd on Friday announced that it won a court case relating to an Energy Charter Treaty award. The mining company, focused on the Arctic Rift copper project in Greenland and the Tannenberg copper project in Germany said the Singapore International Commercial Court of the Republic of Singapore rejected in its entirety, the Republic of Poland’s application to set aside the Energy Charter Treaty award. In 2025, Poland lodged a request to set aside the ECT award in the Singapore Court, which the court has now rejected. Poland has the right to apply to the Singapore courts to appeal the dismissal of the ECT-set aside motion. GreenX Metals said: ‘However if an appeal is granted, it is expected that such an appeal would be dealt with expeditiously by the relevant Singapore court with Poland then having no further rights of appeal. The threshold to succeed on a set aside motion in either the Singapore or English courts is very high, with the courts rejecting set-aside applications in the vast majority of cases.’ In 2024, GreenX was awarded about £252 million in compensation and interest in the Australia-Poland Bilateral Investment Treaty award after the tribunal unanimously held that Poland breached its obligations under the BIT and ECT, GreenX said. GreenX shares jumped 28% to 56.49 pence each on Friday afternoon in London. Copyright 2026 Alliance News Ltd. All Rights Reserved.
|
