Kyrgyzstan's massive loss at an arbitration court this month has encouraged speculation that the country's only significant foreign asset – its stake in a Canadian gold mining company – is up for grabs.
On July 2, a tribunal in Moscow awarded Toronto-listed Stans Energy Corp $118.2 million in damages in a dispute over the Kutessay-II heavy rare earth elements mine in Kyrgyzstan’s Talas Province. Stans acquired a 20-year license to the mine in 2009, which the Kyrgyz parliament recommended the government annul in 2012. (Stans has alleged that powerful Chinese interests in Kyrgyzstan bribed parliamentarians to revoke the license in order to help Beijing maintain control over the lucrative rare earths market.)
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