Falcon seeks $100M from Guinea in World Bank court

A view of Falcon Energy’s pilot plant under construction in Morocco. Credit: Falcon Energy Materials.

Falcon Energy Materials (TSXV: FLCN) filed a $100 million arbitration claim against Guinea, alleging that the West African nation illegally expropriated the company’s Lola graphite project.

Abu Dhabi-based Falcon said it filed a request for arbitration with the World Bank’s International Centre for Settlement of Investment Disputes, citing breaches of the bilateral investment treaty between Guinea and the United Arab Emirates...