ICSID arbitration against Pakistan regarding value of a gold and copper property

In the context of an ICSID arbitration against Pakistan, CRA was retained to assess the fair value of a gold and copper property on behalf of the respondent. CRA determined that fair market value was best assessed based on past transactions, adjusted by several factors occurring between those transactions and the Valuation Date. These factors included changes in world metals markets and country risk, as well as any subsequent efficient, proven investments that might have been taken into account by a hypothetical buyer of the asset on the valuation date.