Kazakhstan's Copper Heist? Turkish Tycoon Readies Arbitration After Astana Gives His Mines To A Week-Old Startup Kazakhstan has spent the past four years telling foreign investors that the Nazarbayev era of cronyism is over. A Turkish billionaire who sank roughly $200 million into two Kazakh copper mines is about to test that claim in front of the World Bank.
According to Turkish business outlet Patronlar Dünyası , Robert Yüksel Yıldırım's Turkish-Dutch CoreX Holding is preparing to file at ICSID, the World Bank's International Centre for Settlement of Investment Disputes, after Kazakhstan's government sat on its acquisition of the Koktaszhal and Kyzylshoky copper deposits in the Karaganda region for two years... and then handed the subsoil rights to a local company that had existed for about a week.
Robert Yuksel Yildirim.Source: Yildirim Holding AS CoreX says it is preparing claims both in Kazakhstan and internationally, demanding either a reversal or compensation for what it calls,