Litigation: Expropriation of Limestone Quarry in Oman


A New York investor invested in a limestone quarry in Oman. The quarry was subsequently expropriated in 2006. Core Consultants was employed by the defense attorneys to assist in building a case against the Omani sultanate.


Whilst several years had passed since the date of expropriation, Core Consultants valued the future potential of the limestone quarry from the perspective of an investor in 2006. Several clients were contacted in order to affirm that they had specific limestone offtakes.

Our Recommendation

Despite being employed by the defense, our opinions remained independent and unbiased. Our recommendation was that whilst compensation was required, the quantum being asked was too large. Further as some of the offtakes were with firms that had uneconomic businesses there was risk to the future profits. Finally as the limestone quarry had reserves for only 15 years, a twenty five year valuation was too rich.


The two parties subsequently settled out of court in 2013. Core Consultants remains an associate for the legal team.

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