London-listed Emmerson has said its arbitration proceedings against the Moroccan government have moved into an active procedural phase, with the tribunal now fully constituted, an initial hearing completed and a formal timetable set for the submission of the company’s full legal case by the end of the first quarter of this year.

In a January 22 statement, the company said the arbitration panel had been fully constituted in the fourth quarter of 2025 following the appointment of tribunal president Laurent Lévy, a national of Switzerland and Brazil.

Emmerson said an initial hearing was held on December 16, during which the tribunal determined several procedural matters. As part of that hearing, the tribunal established a timetable for the initial phase of the arbitration process.

Under that timetable, the company is required to submit its memorial, which will set out its case in full, by the end of the first quarter of this year.

The company said the memorial would include its legal arguments, supporting evidence and details of the compensation it is seeking.

Once the memorial has been submitted, the arbitration will move to its next phase, during which the Moroccan government will have the opportunity to respond to the company’s claims.

The arbitration arises from a dispute relating to the Khemisset potash project in Morocco. On April 30, 2025, Emmerson’s direct and indirect subsidiaries Khemisset UK and Potasse de Khemisset filed a request for arbitration with the International Centre for Settlement of Investment Disputes, which registered the request on May 23, 2025.

The subsidiaries, referred to as the claimants, are seeking compensation for loss and damage they say they sustained as a result of Morocco’s alleged breaches of its obligations under the bilateral investment treaty between the UK and Morocco.

According to Emmerson, the claims include allegations that Morocco expropriated the Khemisset project in violation of the treaty. The company also alleges that Morocco breached its obligations under the treaty by failing to accord fair and equitable treatment, failing to provide full protection and security to the claimants and their investments and impairing the investments through discriminatory measures.

Emmerson said there could be no certainty as to the outcome of the treaty claims, but that it would provide further updates as the arbitration process progressed.