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The Jan Karski coal mine in southeastern Poland. .The company was awarded £252 million after the tribunal unanimously held that the Republic of Poland had breached its obligations under the Treaties in relation to the Jan Karski coking coal project.arguing that Warsaw breached bilateral treaties by blocking Prairie’s investment in two coal mines — Jan Karski and Dębieńsko.
Polish media reported at the time that the company could seek as much as 10 billion zlotys in compensation. The projects contain coking coal as well as thermal coal. Thermal coal, used for power, is struggling to attract investment because of concerns about the environment, but coking coal, used in steelmaking, is still viewed as a strategic mineral.
The company was represented by London-based firm Boies Schiller Flexner. The claim was brought under the United Nations Commission on International Trade Law Rules and the awards are final and binding.Hopes for repeat of May’s copper price blowout fade Copper prices fell sharply on Tuesday after hopes of further stimulus in China evaporated and conditions for a repeat of May’s record setting squeeze faded.Iron ore price plunges as China fails to deliver fresh stimulus
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