ICSID PO#5 - decision as below9 Jan 2026 18:53
.... Published today from what I can make out .... BCN/Ganfemg appear to be aiming for hearings in Dec this year, MX govt has had tried to argue (unsuccessfully) that because they'd requested an associated consolidation tribunal, due the COE estate claim, the original tribunal should be suspended & PO stayed as the consolidation request created a change in circumstances - obviously in my opinion COE's estate claim for royalties is irrelevant if Mexico win the case in any event! Any way I guess there should be confirmation of hearing dates soon ...
Bacanora Lithium Limited, Sonora Lithium Ltd., and Ganfeng International
Trading (Shanghai) Co. Ltd. v. United Mexican States
(ICSID Case No. ARB/24/21)
Procedural Order No. 5
VI. DECISION
48. Based on the foregoing, the Tribunal:
(i) Orders the Parties to comply with the deadlines set forth in “Scenario 2” of the Procedural
Timetable of PO1;
(ii) Declines to revisit its decision on the Respondent’s Request for Suspension, without
prejudice to:
a. The Parties’ right to seek a revision of PO4 and of this Procedural Order before this
Tribunal if circumstances change; or
b. Any pending or future application to suspend this arbitration filed before the
Consolidation Tribunal, or any decision issued by the Consolidation Tribunal to that
effect.
(iii) Orders the Parties to negotiate the pending dates in the Procedural Timetable and submit a
joint proposal to the Tribunal within 10 days of this Procedural Order, including hearing dates
that consider the Respondent’s existing commitments for December 2026. During their
negotiations, the Parties shall disclose any existing commitments as well as their availability
to attend a hearing during the first half of 2027. Should the Parties fail to reach an agreement
on potential hearing dates, the Tribunal will directly fix the hearing dates in the Procedural
Timetable after hearing the Parties.
(iv) Dismisses all other requests.
For and on behalf of the Tribunal,
Mr. Eduardo Zuleta
President of the Tribunal
Date: 11 December 2025
[signed]
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