CARACAS, April 12 Anglo American is
seeking compensation from Venezuela at a World Bank tribunal
over the 2012 cancellation of mining concessions by late
president Hugo Chavez's government.
The World Bank's International Center for Settlement of
Investment Disputes (ICSID) said on its website the claim was
introduced on Thursday, but gave no more details.
Venezuela faces more than 20 international compensation
cases in disputes largely stemming from the 1999-2013 Chavez
era. He died from cancer in 2013, with a protege, Nicolas
Maduro, winning election to replace him.
The best-known cases are multi-billion compensation claims
by ExxonMobil Corp and ConocoPhillips over
Anglo American had a 91.4 percent stake in the Loma de
Niquel project until the government canceled 13 concessions and
refused to renew three others, according to the company's
There was no word from the company, or Venezuela's
government, on the compensation case.
(Reporting by Diego Ore; Writing by Andrew Cawthorne; Editing
by Alison Williams)