The Canadian company World Wide Minerals is turning to arbitration to review the case regarding uranium licenses, as reported by Orda.kz.
According to the information, WWM has filed a notice for a renewed arbitration proceeding against Kazakhstan, marking the beginning of the third phase of the dispute related to investments in uranium in Kazakhstan made in the 1990s.
The reason for this appeal was the decision of the High Court of England issued on February 28, 2025. The court in London overturned the previous arbitration ruling, which required Kazakhstan to pay WWM $54.5 million, and upheld Kazakhstan's position. WWM claims that the court only annulled the findings of the second arbitration ruling regarding causation and the calculation of damages, without affecting the conclusions about violations of international law.
“The conclusion of the first arbitration ruling from October 2019 regarding Kazakhstan's violation of international law and the bilateral investment treaty between Canada and the USSR remains in force and is not subject to review,” the company representatives noted.
According to WWM President and CEO Ann Marie Carroll, the company is forced to return to arbitration nearly three decades after the events. She emphasized that Kazakhstan continues to contest the results of previous proceedings, despite two arbitration rulings confirming violations. A new tribunal will consider this third arbitration.
According to previously published data, the conflict between Kazakhstan and World Wide Minerals Ltd (WWM) arose back in the late 1990s. The Canadian investor invested in Kazakhstan's uranium sector, managing one of the leading enterprises in this field. An investment agreement existed between the company and the government of Kazakhstan.
It is worth noting that Kazakhstan previously won an international arbitration case against Italian contractors Todini Costruzioni Generali and WeBuild concerning the construction of the Almaty – Khorgos road. The Paris international arbitration court completely dismissed their claims amounting to about $50 million and ordered the plaintiffs to cover the legal costs.
