Writing through the Chief Executive Officer of Cassius Mining Limited Mr. James Arkoudis has released a statement announcing the current state of the ongoing International Arbitration between the mining company and the government of Ghana.
Below is the full text:
ASX ANNOUNCEMENT 19 March 2025 INTERNATIONAL ARBITRATION UPDATE
This announcement provides an update on the international arbitration between Cassius Mining Ltd’s (ASX:CMD) wholly owned Ghanaian subsidiary (Cassius Mining Ltd, “Cassius”, “the Company”) and the Government of the Republic of Ghana (“Ghana”). On 17 January 2025, Cassius announced that the Tribunal had found that the challenge Cassius had filed on 23 October 2024 to remove Ghana’s party-appointed arbitrator, Prof. Richard Oppong, was justified and admissible. He was invited to resign and did so shortly after. On 21 February 2025, Ghana appointed a replacement arbitrator and the Tribunal has been reconstituted. The parties have also now agreed that the venue for the final hearing of the arbitration proceedings will be at the Peace Palace in The Hague in the Netherlands. The date of the final hearing is scheduled for 15- 19 June 2026.
Background: On 23 December 2024, Cassius filed its full Memorial outlining its Claim against Ghana, including witness statements and independent expert reports, specifying damages in the amount of ~USD 277 million (~AUD 443 million) as a consequence of Ghana’s breaches of contract and statute. This has been authorized and approved by the board for release. FURTHER INFORMATION: James Arkoudis – Director, CEO e: james@cassiusmining.com
