The Singapore International Commercial Court has dismissed Poland’s challenge to GreenX Metals’ £183 million Energy Charter Treaty compensation, reinforcing the company’s significant legal victory.
- Singapore Court rejects Poland’s application to set aside ECT award
- GreenX awarded approximately £183 million under Energy Charter Treaty
- Total compensation including BIT award exceeds £250 million
- Additional interest of £17 million accrued since October 2024
- Poland retains right to appeal but faces high legal threshold
Background of the Dispute
GreenX Metals Limited, a mining company listed on the ASX, has secured a major legal win in its ongoing dispute with the Republic of Poland. The Singapore International Commercial Court has dismissed Poland’s application to set aside an arbitration award made under the Energy Charter Treaty (ECT), which had granted GreenX approximately £183 million in compensation. This follows an earlier award of about £252 million under the Australia-Poland Bilateral Investment Treaty (BIT), both stemming from Poland’s breach of treaty obligations.
The Court’s Decision and Its Significance
The Singapore Court’s judgment, issued in early January 2026, firmly rejected Poland’s challenge to the ECT award. Poland had contested jurisdictional issues and alleged procedural unfairness in the arbitration tribunal’s decision on damages. However, the court found no grounds to overturn the award, reinforcing GreenX’s entitlement to the compensation. The ruling not only upholds GreenX’s financial claim but also strengthens the enforceability of international arbitration awards in complex cross-border investment disputes.
Financial Implications for GreenX
With the ECT award upheld, GreenX stands to receive the original £183 million plus accrued interest, which has already reached approximately £17 million as of December 2025 and will continue to compound annually until full payment. Combined with the BIT award, GreenX’s total compensation exceeds £250 million, a substantial sum that could significantly impact the company’s financial position and future investment capacity.
Potential Next Steps and Market Impact
While Poland retains the right to appeal the Singapore Court’s decision, the threshold for overturning such awards is notably high, and any appeal would likely be expedited and final. GreenX has indicated it will continue to defend its awards vigorously and keep the market informed. This legal clarity may bolster investor confidence in GreenX, while also setting a precedent for similar international arbitration cases involving sovereign states and resource companies.
Broader Context
This case highlights the growing importance of international treaties like the Energy Charter Treaty and Bilateral Investment Treaties in protecting foreign investments. For mining companies operating in politically sensitive jurisdictions, the outcome underscores the potential recourse available through arbitration mechanisms when treaty obligations are breached.
Bottom Line?
GreenX’s legal victory solidifies its claim but the final chapter hinges on whether Poland pursues an appeal.
Questions in the middle?
- Will Poland file an appeal against the Singapore Court’s dismissal?
- How will GreenX deploy the anticipated compensation funds?
- What precedent does this set for future international arbitration involving sovereign states?