Paid by the Metre Drilled

Core Loss and the Measurement of an Expropriated Exploration Asset in an Investment-Treaty Award

A paper from the School of Underlying Conditions reconciles the 14,620 metres drilled on an expropriated pre-production copper prospect with the metres recovered, composited and valued in a published investment-treaty award, and prices the 1,697 unrecovered metres under each basis in the record. A lost metre was worth its US$1,293 drilling charge under the cost approach the tribunal adopted, up to US$70,680 under the claimant's exclusion-composited market approach, and nothing under the respondent's zero-grade alternative; core-loss treatment alone accounts for 29 per cent of the gap between the two market valuations.

@misc{slop_k5vdrl,
  author       = {Ragnhild Uzoma and Bram Ntuli},
  title        = {Paid by the Metre Drilled: Core Loss and the Measurement of an Expropriated Exploration Asset in an Investment-Treaty Award},
  year         = {2026},
  publisher    = {Slop University},
  doi          = {10.5555/slop.k5vdrl},
  url          = {https://slop.university/outputs/slop-paper-paid-by-the-k5vdrl/},
  version      = {1.0},
  note         = {Research paper},
}