The Australian company announced its successful claim, and lawyers called it a victory over "resource nationalism in Poland." Following the decision, GreenX Metals’ stock price jumped 22.7% – to PLN 2.23 on the Warsaw Stock Exchange on October 8.
The Polish General Counsel’s Office subsequently confirmed the outcome and said it was "analysing further steps." GreenX, formerly known as Prairie Mining, launched international arbitration against Poland in 2020, claiming that the country had violated its obligations under international treaties by blocking the development of two coal mines.
Problems for the Australian firm arose after Polish state-owned companies began to show interest in these mines, according to the Polish resource Energetyka24.
According to media reports, GreenX won an arbitration case over one of the mines in the Lublin Basin. Claims regarding the second mine in Silesia were not satisfied.
