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OceanaGold announces it will stay in El Salvador despite prohibition

P. Cabezas

mesaMembers of the National Roundtable Against Metallic Mining demanded the immediate removal of Australian/Canadian OceanaGold mining company of El Salvador after the Attorney General's Office reported that the mining company Oceana Gold had paid the $ 8 million dollars awarded by the International Centre for the Settlement of Investment disputes, ICSID.

“After the Legislative Assembly approved a law prohibiting mining exploration and exploitation, it makes no sense to maintain a company like Minerales Torogoz, OceanaGold's subsidiary in El Salvador, whose sole mandate is gold exploitation.” said Vidalina Morales, president of the Santa Marta Economic Development Association, during a press conference.

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PRESS RELEASE: OceanaGold, “the gold mining company of choice”? Not in El Salvador or the Philippines

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PRESS RELEASE

June 23, 2017

(Ottawa/Washington, D.C./Melbourne) Reviewing OceanaGold reports issued in the lead up to its June 23 annual general shareholders meeting in Toronto, it is difficult to tell that the company was at the centre of international controversy over two of its mine projects in 2016 and early 2017. Ignoring significant problems in El Salvador and the Philippines, however, will not address the reputational risk that the company continues to face.

In October 2016, a World Bank tribunal found against OceanaGold in a seven-year, multimillion-dollar suit against El Salvador. The ruling found that the company had not met legal requirements to obtain a mine permit and ordered it to pay the Central American country US$8 million in legal costs. When the company had still not paid up by late March, the tribunal ordered the company to pay interest on its debt. Nonetheless, the debt remains outstanding.

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Pressure Grows on Mining Giant to Pay $8 Million to El Salvador

Telesur

Despite a deadline from the lawsuit passing, the company owes El Salvador US$8 million. 

Over 280 organizations from around the world sent an open letter to Canadian-Australian mining giant OceanaGold on Tuesday, demanding that the company adhere to an earlier ruling by a World Bank body that ordered the company to pay the government of El Salvador US$8 million after a years-long legal battle.

 OceanaGold, formerly Pacific Rim, was given 120 days to either to pay the US$8 million fine or to submit a plea to have the fine overturned, a deadline which ran out last week.

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In El Salvador, OceanaGold Must ‘Pay Up and Pack Up’

MiningWatch

After seven years, four murders and US$24 million in total legal costs, in October 2016, a little-known World Bank tribunal trashed OceanaGold’s claim that El Salvador either owed it a mining permit for a proposed gold mine or US$250 million dollars.

The Washington D.C.-based International Centre for Settlement of Investment Disputes (ICSID) panel decided that OceanaGold’s predecessor Pacific Rim Mining never met the legal requirements under El Salvador’s mining law to obtain a permit to exploit gold and must pay the Central American country US$8 million towards its legal costs.

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A wake-up call for Trump's trade agenda

By Robin Broad and John Cavanagh : The Hill

This week, labor, environmental, religious and other groups, representing over 180 million people from around the world, sent a letter to a corporate mining CEO — a letter that is also a wake-up call for President Trump's trade agenda.

The letter highlights the problems with the so-called "investor-state" provision in trade deals, first created through the North American Free Trade Agreement (NAFTA) 23 years ago. This provision unfairly prioritizes corporations, encouraging them to file lawsuits against governments that implement public health and other measures that impede future corporate profits.

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OceanaGold (Pacific Rim) plans to sue the State; organizations demand mining ban

Radio Mundo Real

While OceanaGold, one of the largest mining companies in El Salvador, delays compliance with its obligation to compensate El Salvador, several social forces are demanding a metal mining ban.

OceanaGold company, which in 2013 acquired Pacific Rim, has until February 14 to determine if it will pay the compensation amounting to 8 million dollars to El Salvador as ordered by the International Center for Settlement of Investment Disputes (ICSID), a World Bank body last October.

The ICSID gave 120 days to review its ruling, which were taken by OceanaGold to decide whether they will comply with the arbitration award or they will submit a plea of nullity. El Salvador won the lawsuit against Pacific Rim / OceanaGold, which had been filed in 2009 by the company to request the State the payment of approximately 250 million dollars as compensation for not letting it exploit El Dorado mine in San Isidro, Cabañas.

In 2002, the company had started exploration works in the mine after acquiring permits, but it was never authorized to exploit it. El Salvador is Central America´s smallest country and also one of the countries with the highest levels of environmental deterioration. READ MORE

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