Toronto-headquartered Stans Energy, which once had the right to a past producing rare-earth mine in Kyrgyzstan, has won its arbitration case against that country, but was awarded only one fifth of the $117.85-million it sought for compensation.
An arbitration tribunal awarded Stans about $24-million, which includes damages, interest and costs, the company said on Wednesday.
Stans in 2013 formally started international arbitration action against the government of Kyrgyzstan for the expropriation of its Kutessay II rare earth project.
Stans is transitioning to become a supplier of materials and technologies that will assist in satisfying the future energy supply, storage and transmission needs of the world.