Resource Investor, VA
March 16 2007
Global Gold alleges Armenia requests bribe
By Todd Flagg
16 Mar 2007 at 04:11 PM
U.S.-based Global Gold Ltd. requested an arbitration demand that
accuses Armenian authorities of hobbling various gold mining
investments, through a refusal to renew and grant appropriate mining
licenses. In addition, Global Gold alleges that it confronted a
demand from a senior government minister for a $3 million bribe.
Global Gold, who filed the arbitration demand with International
Centre for Settlement of Investment Disputes (ICSID), alleges that
its licensing woes were aggravated after the firm refused the bribe
request.
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