Litigation Between Costa Rica and Canadian Mining Company Suspended

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.

Monday, July 27, 2015

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.

Crhoy.com reports that "... Costa Rica opposed the request for suspension for not having submitted the application at the right time, since the deadline for doing so was July 10, and was "the missing step to start the substantial part of the process and which Costa Rica was waiting for in order to make proper defense. Comex and the legal team understood that the request was not appropriate. Now it will be the Tribunal appointed by ICSID who will decide the next step. "

The foreign trade minister, Alexander Mora, "... did not wish to divulge decisions or speculation on the possible outcomes, as the phase is critical. The Ministry is only waiting for the complaint to be filed in order to respond. Infinito Gold began the process of officially suing in February 2014, four months after the threat. "

More on this topic

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.

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.

International Litigation Over Mine in Costa Rica

February 2014

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.

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.

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.

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