... El Salvador under the investment provisions of the Central America Free Trade Agreement and El Salvador’s investment law, seeking over $300 million to recover its costs and what it calculated as lost profits ...
... Central American nation’s struggle to put the health of its population above the profits from gold mining was always going to grab some international attention. But when combined with the ways in which ...
... in the northern part of the country.
“OceanaGold recorded over US$130 million in profits from its global operations in 2016 and has all the means with which to quickly settle its debt and truly clear ...
... determined to plunder the country’s natural resources for short-term profits, El Salvador’s Legislative Assembly has voted to ban all metal mining projects.
The new law is aimed at protecting the Central ...
... protection and human rights over corporate profits. Dr. Grzyb took the audience through an explanation of the population density of El Salvador and the various environmental challenges that face the country ...
... for Settlement of Investment Disputes, ICSID, which handles investor-state disputes, rejected a claim from the company that it had lost profits after the Salvadoran government refused to grant a concession ...
... measures that impede future corporate profits. Back to the letter in a moment, but first the dilemma that it highlights for Trump: In one of Trump's first public statements as president, on Jan. 22, he ...
... on new mining concessions. The move sparked a nearly decade-long, multi-million dollar lawsuit, launched against the country by international mining giant OceanaGold for infringing on its future profits ...
... company "has not resigned and will never give up (in its interest to continue with its operations), they see the profits and chase them," executive director of the Association for Development of El Salvador ...
... for the loss of potential profits (it is the equivalent of 1 per cent of the country’s GDP), it is important to analyse the outcome with care.
Pyrrhic victory
The stance taken by the International Allies ...
... Gold) filed a lawsuit against the government of El Salvador in 2009, demanding $250 million in compensation for the loss of profits they’d expected to make from their mining project there. This is a staggering ...
... International Center for the Settlement of Investment Disputes, which allows corporations to sue states through free trade agreements if future profits are perceived to be infringed upon.
“Such project ...
... that it lost US$314 million in potential profits because the project was halted, a figure that is more than 1% of El Salvador’s Gross Domestic Product. In its complaint, Pac Rim Cayman said it had made ...
... subsidiary of the Canadian-Australian company OceanaGold, sued El Salvador for alleged losses of potential profits as a result of not being granted a mining concession for a gold project. The government ...
... Dorado project. Instead, it sued the government, demanding compensation for future profits foregone.
Given the circumstances, ICSID shouldn’t have accepted the case, but it allowed it to proceed. In ...
... (ISDS), allowing investors to sue their host state when changes to regulations threaten to reduce profits. Many countries have already faced unexpected claims against them, because they wanted to implement ...
... can leave behind, even after decades from their closing. Companies leave, as soon as the profits have been exhausted, and they do not worry about their toxic leftovers.
OceanaGold in Cabañas: terror and ...
... to protect its investments and potential future profits from mining.
Apparently democracy had an asterisk: “free trade.”
Corporate Privilege
A provision in CAFTA known as an “investor-state dispute ...
... due to lost profits
Water is not supposed to be orange, not even in El Salvador. But, in the town of San Sebastian, in the Eastern part of the small Central American country, it is. Gustavo Blanco uses ...
...
Also another quoted mining company, the Australian-Canadian Oceanagold, sued the country before the same tribunal. The company demanded 301 million US dollars as a compensation for lost profits for a ...