Summary

Source: icsid.worldbank.org

Pursuant to Article 50 of the Convention on the Settlement of Investment Disputes between States and Nationals of Other States ("ICSID Convention") and Rule 50 of the Rules of Procedure for Arbitration Proceedings, entered into force as of April 10, 2006 ("ICSID Arbitration Rules"), the Republic of Perú, ("Applicant" or "Respondent") hereby submits this Request for Interpretation ("Request") of the arbitral award rendered on May 17, 2024 in the matter of Freeport-McMoRan Inc. v. Republic of Perú, ICSID Case No. ARB/20/8 (the "Award").

INTRODUCTION

This Request concerns a discrete issue on which a dispute has arisen between Respondent and Freeport-McMoRan Inc on its own behalf and on behalf of Sociedad Minera Cerro Verde S.A.A. ("Claimant" or "Freeport")1 regarding the interpretation of the Award. Respondent seeks the Tribunal's decision on the interpretation of the disputed issue in order to ensure the proper implementation of the Award.

The Parties' dispute concerns the interpretation of the Award with respect to whether the Tribunal found that it had jurisdiction over Claimant's claims concerning penalties and interest on the Royalty Assessments. Respondent reads the Award as determining that the Tribunal lacked jurisdiction to hear Claimant's claims concerning penalties and interest, including those related to the Royalty Assessments. Claimant has advanced a conflicting interpretation in the annulment proceeding it initiated in December 2024, in which it seeks the partial annulment of the Award (the "Annulment Proceeding"). In the Annulment Proceeding, Claimant argues that the Tribunal upheld jurisdiction over its claims concerning penalties and interest on the Royalty Assessments but allegedly failed to address those claims on the merits. With the completion of two rounds of pleadings in the Annulment Proceeding, the dispute between the Parties on the interpretation of the Award has crystallized and the question, in which the parties have a conflicting view, has been clearly defined. Respondent now submits the present Request seeking the Tribunal's interpretation of that disputed question.

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