Israeli Government Rejects Dead Sea Works Request for Arbitration on Mineral Royalties

Israel’s Ministry of Finance has rejected a request from Israel Chemicals Ltd. to arbitrate its claim that the government breached an agreement on Dead Sea mineral extraction by including the subject in subsequent committee hearings expected to increase royalties on the commercial use of natural resources.

A spokeswoman for Israel Chemicals told Bloomberg BNA April 7 that the company “does not accept the Finance Ministry’s position and is considering further steps” in the case.

Israel Chemicals claimed that it is entitled to compensation for any current or future damage to its subsidiary, the Dead Sea Works (DSW), that could result ...