In anticipation of an imminent ruling from a little-known arbitration tribunal at the World Bank that could force El Salvador to pay Canadian-Australian mining firm OceanaGold US$301 million, a Salvadoran delegation is visiting Canada to discuss how investor-state arbitration threatens democratic decision-making, public health and the environment here and beyond our borders.
The Central American state of El Salvador could be forced to pay US$301 million in damages to an Australian-Canadian mining company, OceanaGold, after the company’s application for a mining license was rejected on the basis of the projected environmental damage it would cause.
The International Centre for Settlement of Investment Disputes has ordered Papua New Guinea's government to stop interfering in the management of PNG Sustainable Development Program.
The Nawaz Sharif government is in an unnecessary haste to settle and pay millions, possibly billions, of dollars as compensation for the Reko Diq gold and copper mines to a discredited and ousted Canadian-Chilean mining consortium, a decision if made may resemble the infamous circular debt payment of Rs500 billion in the early days of the PML-N government.
Ten years after the approval of DR-CAFTA, we are seeing many of the effects that citizens who opposed the deal cautioned about., write Manuel Perez-Rocha and Julia Paley.
The case of Newmont Mining vs Indonesia is a powerful example of how investment agreements, particularly Bilateral Investment Treaties (BITs), are used by companies to get exemptions from government regulations and legislation, undermining democracy and development.
Australian-based company OceanaGold is suing El Salvador for US$301 million for its “right” to continue operating a gold mine that is destroying the Central American nation's water supply.