Canada Defends its Mining Companies

Central America should take note that the Canadian government is moving away from environmental positions and promoting and defending the interests of its mining investment undertakings in other territories.

Wednesday, May 13, 2015

The Salvadoran government is attempting to gain support in Canada in its litigation against Oceana Gold, a company founded on Australian and Canadian capital which is trying to buy Pacific Rim, a company that sued El Salvador for $301 million because they were not granted permission to operate a gold mine in the north.

However, Salvadoran representatives have not even managed to meet with any representative from the Canadian government.

An article on holds up to comparison "... the policy of the government of Canadian Prime Minister Stephen Harper, who in recent years has instructed his embassies to make it a priority to promote and defend mining companies in the country, a policy criticized by opposition parties and social organizations. This approach to Canadian foreign policy adds to Harper's decision to withdraw Canada from the Kyoto Protocol, and reduce environmental protection in the country, in order to allow unfettered development of the extractive sector, especially in the oil field. "

Canadian mining investments in Central America are relevant, and the governments of the region should take into account the Canadian stance in implementing its political exploitation of mineral resources.

More on this topic

Less Investment in El Salvador

July 2017

The company Oceana Gold has paid the $8 million it owed because of the international arbitration case it lost against the Salvadoran state and has announced that it has no plans to continue mining activities in the country.

With the payment of $8 million plus interest, an end has been brought to the litigation that began years ago between Pacifi Rim, now Oceana Gold, and the Salvadoran state.

El Salvador: Oceana Gold Mining Conflict Continues

April 2017

The Public Prosecutor's Office has frozen the company's property, vehicles and bank accounts, because it has not yet paid the $8 million plus interest owed from an international arbitration case which it lost to the Salvadoran State.

From a statement issued by the Attorney General of El Salvador:

Ruling Favors El Salvador in Mining Dispute

October 2016

The International Centre for Settlement of Investment Disputes has ruled in favor of El Salvador in the dispute with the mining company OceanaGold, owner of the El Dorado gold mine.

From a press release by OceanaGold Corporation:

(MELBOURNE) OceanaGold Corporation (TSX/ASX/NZX: OGC) (the “Company”) has been advised that the arbitration tribunal constituted by the World Bank’s International Centre for Settlement of Investment Disputes (“ICSID”) has found in favour of the Government of El Salvador (the “Government”) in its dispute with an OceanaGold indirect subsidiary company, Pac Rim Cayman LLC. ICSID granted an award of US$8 million to the Government of El Salvador to cover its legal fees and costs.

A New Mining Company in El Salvador

September 2016

Companies in the sector point to the favorable geological conditions for this activity in the country and advocate that the suspension of concessions which has been in effect since 2009 be lifted.

Companies engaged in exploration and mining activities support their argument citing the new ways in which the activity now takes place, differentiating the artisanal mining techniques which were used in the past from those used in modern mining. 

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