Almaden scores early arbitration win over Mexico

Executive Summary

• Almaden Minerals reports that the arbitration panel rejected Mexico’s request to bifurcate jurisdictional objections from the merits of the claim under the CPTPP.
• The rejection clears the way for the case to proceed on its substantive merits without further procedural delay.
• Almaden expects to provide an update on the arbitration calendar in Q4 2025.

Key Details

• Arbitration Context: Proceedings are under the Comprehensive and Progressive Agreement for Trans‑Pacific Partnership (CPTPP) concerning the loss of Almaden’s investment in the Ixtaca precious metals project, Mexico.
• Parties Involved: Claimants – Almaden Minerals Ltd. and Almadex Minerals (on behalf of themselves and their Mexican subsidiaries). Respondent – Government of Mexico.
• Prior Ownership: Almaden held 100 % of the Ixtaca project; Almadex held a 2.0 % net smelter returns royalty.
• Procedural History:
• July 7, 2025 – Claimants filed their memorial document.
• Mexico subsequently requested that the arbitration panel consider jurisdictional objections in a separate phase (bifurcation).
• Panel Decision: The arbitration panel rejected Mexico’s bifurcation request in full, allowing the case to continue on its merits without a separate jurisdictional phase.
• Claimants’ Position: Almaden described Mexico’s bifurcation request as “fundamentally flawed and disingenuous,” intended to delay resolution.
• Next Steps: Almaden anticipates issuing an update on the arbitration calendar in the fourth quarter of 2025.

Notable Quotes

• “With this bifurcation request now rejected in full, Almaden expects to be able to share an update on the arbitration calendar in the fourth quarter.” – Almaden Minerals Ltd. (press release)