1. The Tribunal below sets forth first the history of the proceedings in this case, and then its reasons for this Award, followed by a provision on costs and the dispositg

A. HISTORY OF THE PROCEEDINGS

2. On 28 May 1992 the International Centre for Settlement of Investment Disputes ("ICSID" or "the Centre") received the Request for Arbitration ("the Request") in this case submitted by "Thacher Proffitt & Wood As Attorneys for Claimant Vacuum Salt Products Limited" ("Vacuum Salt" or "Claimant"). The Request essentially alleged that Vacuum Salt had suffered both a breach and progressive expropriation of its contractual rights to develop a salt production and mining facility in the Ada-Songor Lagoon in the Republic of Ghana ("Ghana" or "Respondent"). In particular, the Request alleged "continual violation" by Ghana of a lease agreement between Vacuum Salt and Ghana dated 22 January 1988 "and a predecessor agreement," "ultimate repudiation of the [I9881 Lease Agreement" by Ghana by decision of 24 April 1992 and "its expropriation of the business and property of Vacuum Salt." The Request asserted that the parties had consented to ICSID arbitration in paragraph 36(a) of the said lease agreement: