Tuesday, 20 October 2020

Canadian Mining Co. To Sue Costa For US$1 Billion Dollars

Canadian mining company Infinito Gold announced its intentions to sue the government of Costa Rica for US$1 billion dollars over the Las Crucitas open-pit gold mining concession in Costa Rica’s northern zone.

In a statement Friday, the company said it plans to move forward with the case to the World Bank’s International Centre for Settlement of Investment Disputes (ICSID).

The legal battle between the Chinchilla administration and the Canadian miner began when the government cancelled the La Crucitas project in Cutris de San Carlos, in the province of Alajuela, following calls by environmentalists and local residents over environment and health concerns, resulting in a court cancelling the permit.

infinto-fueraIn 2008 Industrias Infinito, the Costa Rican subsidiary of the Calgary (Canada) based Infinito Gold, obtained a mining concession (by the Arias administration) for the 261-hectare project. The company says it has invested US$92 million in the project that it expected to have a profit potential of US$1 billion.

- paying the bills -

Costa Rica’s Environment Minister  has yet to comment on the Infinito announcement.

Earlier this year, the International Centre for Settlement Dispute dismissed Infinito’s $1 billion claim against another Latin American government. Venezuelan officials confiscated the company’s Las Cristinas mine in 2001, sparking a 10-year battle between the government and the Canadian company.

- paying the bills -
- paying the bills -
"Rico" is the crazy mind behind the Q media websites, a series of online magazines where everything is Q! In these times of new normal, stay at home. Stay safe. Stay healthy.

Related Articles

Cuba Plane Crash: Company ‘Had Safety Complaints’

Solidarity and investigations after the accident. Cuban authorities are investigating the...

The Volcanos Of Central America (By Country)

Among the things most loved by travelers to Central America is...


‘Someone has to die’: Netflix portrays racism and the persecution of homosexuality in 1950

Q ENTERTAINMENT - Someone Has to Die (Spanish: Alguien Tiene Que Morir) is a Spanish-Mexican thriller web television limited series created by Manolo Caro,...

Aeroméxico once again bringing tourists to Costa Rica

QCOSTARICA - This Sunday morning, minutes after midnight, the Mexican airline Aeroméxico resumed operations at the Juan Santamaría International Airport (SJO) with a first...

Tickets issued for not buckling up and use of cell phone at the wheel increased this year

QCOSTARICA - The increase in the number of fines issued for not wearing a seat belt and using a cell phone behind the wheel...

Government relaxes vehicle restriction for weekends

QCOSTARICA - The daytime sanitary vehicle restriction will be suspended on weekends starting this Saturday. vehiThrough a video, President, Carlos Alvarado, announced that from this...

Costa Rica opens air borders to ALL countries in November

QCOSTARICA -  As of November 1, Costa Rica will open its air border to all countries. To date, tourists from only a select number...

It’s official: Volaris will resume flights in Costa Rica

QCOSTARICA - After months of having its wings clipped by the COVID-19 pandemic, the low-cost airline Volaris will resume its flights in Costa Rica...

Let's Keep This Going!

To be updated with all the latest news and information about Costa Rica and Latin America.

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.