AUSSIE miner GreenX Metals is set to pocket £737m in damages from the Polish government, following a two-week long hearing in London.

The company, which digs for metals critical to the green transition, had filed a lawsuit against Poland in 2020 for profits lost in relation to two coal mines based in the country.

The development of both projects was blocked by the government, which "deprived GreenX of the entire value of its investments" and went against Poland's obligations under the Energy Charter Treaty and Australia- Poland Bilateral Investment Treaty, the firm wrote yesterday.

London-listed GreenX first sought negotiations with the government over the dispute in February 2019.

With the years-long spat wrapped up, the miner's share price jumped over 45 per cent yesterday afternoon.

GreenX added that its investment dispute with Poland was "not unique, with international media widely reporting that the political environment and investment climate in Poland has deteriorated since the change in government in 2015."

(c) 2022 City A.M., source Newspaper