EuroGas wants at least €8 bn from Slovakia in new talc mining arbitration

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EuroGas wants at least €8 bn from Slovakia in new talc mining arbitration

12. 01. 2018 14:00

Within the next two months, the company EuroGas will sue Slovakia again in the international arbitration court for the alleged illegal withdrawal of a licence for talc mining in Gemerská Poloma, EuroGas managing board chairman Wolfgang Rauball told the TASR press agency. It wants to claim higher compensation for the licence's withdrawal, as the talc deposit is reportedly much bigger than what was originally assumed. It did not give any details as to what analysis his claim is based on. EuroGas began indicating its plans to take legal action against Slovakia over the loss of the talc quarry in 2010. At first, it demanded compensation of €500 million. One year later, a company called EuroGas Inc., registered in the USA, also began claiming compensation. The total sum of the required compensation thus climbed to €1.5 billion. EuroGas asserted that its rights related to a trade agreement between the erstwhile Czechoslovakia and the USA from 1991 had been violated. The Slovak Finance Ministry has denied that any such agreement was broken.

Anca Dragu, Photo: TASR

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