International Litigation Over Mine in Costa Rica

Infinito Gold is suing for $94 million lost due to violations of the agreement for the promotion and protection of investments between Costa Rica and Canada.

Monday, February 10, 2014

Industrias Infinito confirmed that its parent company, Infinito Gold, has filed a law suit against Costa Rica at the International Centre for Settlement of Investment Disputes (ICSID) seeking compensation as a result of their investments in the canceled mining project of Crucitas.

According to the company, the claim is based on a series of violations of an agreement between Canada and Costa Rica for the promotion and protection of investments.

Infinito Gold is asking for $94 million, which they say is the amount that has been invested in Crucitas since 1993. The figure includes interest payments and legal costs.

More on this topic

Litigation Between Costa Rica and Canadian Mining Company Suspended

July 2015

The Canadian firm Infinito Gold has ceased operations and requested the temporary suspension of arbitration against Costa Rica over the failed concession of the Crucitas gold mine.

The cessation of business operations due to lack of financial resources, announced in mid-July, when all its directors and managers resigned, could be the main reason for the decision to request the temporary suspension of the proceedings against Costa Rica over the Crucitas gold mine, for which $94 million was demanded for violations of the agreement for the promotion and protection of investments between Costa Rica and Canada.

Everybody Wins, Nobody Loses ... Except You and Me

February 2014

The money that the State of Costa Rica will lose in the dispute over the failed concession of the Crucitas mine will come from taxpayer's pockets.

Editorial

During the 20 year period of the soap opera that is Crucitas gold mine, none of the individuals who are involved in one way or another have suffered any financial loss and many, on the contrary, have seen an increase in their income and their bank accounts.

Mining Company Sues Costa Rica for $1.1 billion

June 2013

After the final decision by the Constitutional Court dismissing their claims, Industrias Infinito has announced it will continue litigation in international tribunals.

"Industrias Infinito turned to international arbitration with the International Centre for Settlement of Investment Disputes and Investment Disputes (ICSID) in April, the company is asking the State to pay $1.092 billion in compensation for halting the mining concession", reported Nacion.com.

Miner Proposes Costa Rica Agreement or $1.1 Billion Litigation

April 2013

Infinito Gold has given an ultimatum to the Costa Rican government, to either agree to resume its gold mining project, or face an international law suit for $1.09 billion.

The Canadian mining company had initially obtained permits for the operation of a gold mine in Costa Rican territory, and had already started the project when a court ruling overturned the award, pointing to flaws in the process of granting permits, and environmental damage.

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