Axis International Ltd has initiated a USD 28.9 billion arbitration against Guinea at the World Bank's International Centre for Settlement of Investment Disputes (ICSID). The UAE-based firm claims Guinea unlawfully terminated its rights to a significant bauxite mine, where it invested USD 250 million since 2013. Axis International alleges the revocation violated a bilateral treaty and that Guinea ignored settlement efforts. The dispute centers on the termination of Axis's 85% ownership in a Guinean company holding rights to the Boffa mine, which contains over 800 million tonnes of bauxite reserves.