The heat has quietly evaporated from the expropriation case pursued against the SA government for four years by a group of Italian investors. The heat has quietly evaporated from the expropriation case pursued against the SA government for four years by a group of Italian investors. It looks as though the parties have reached a settlement, but it is not being described as one. Though an arbitration hearing before the World Bank's International Centre for the Settlement of Investment Disputes was held in The Hague in April, the issue was SA's request for costs, not the merits of the case. Last year RED Graniti and Finstone, the company that owns granite company Marlin, were granted the mining rights at the heart of their claim. Theirs was the first-ever international expropriation case brought against SA under its bilateral investment treaties with Italy and Luxembourg since the 2004 Minerals & Petroleum Resources Development Act made government the custodian of SA...
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