Exploration Company Says Mexican Litigation Doesn’t Moot $2.3B Arbitral Claim

Mealey's (January 23, 2023, 10:46 AM EST) -- WASHINGTON, D.C. — An American mineral exploration company seeking more than $2.3 billion in damages for the denial of its bid to develop an underwater phosphate deposit argues in a post-hearing brief to an arbitral tribunal that its pending challenge to the denial in a Mexican court does not affect its claim for breaches of the North American Free Trade Agreement (NAFTA), while Mexico says the arbitration is an attempt to “second-guess” the government’s decision....