The arbitration panel was formed to hear the lawsuit against the State of Guatemala, which was filed because of the suspension of the operations of the El Tambor mine, in San José del Golfo and San Pedro Ayampuc.
After the arbitration claim was filed by the Americans Daniel W. Kappes, Kappes, Cassidy & Associates before the International Centre for Settlement of Investment Disputes (ICSID) on December 11, 2018, the body announced that the panel was formed.
Representatives of the El Tambor mine, located in San José del Golfo and San Pedro Ayampuc, filed a $300 million lawsuit against the State of Guatemala.
The arbitration lawsuit was filed by the Americans Daniel W. Kappes, Kappes, Cassidy & Associates, which was registered by the International Centre for Settlement of Investment Disputes (ICSID) last December 11th.
Industrialists are demanding that the Constitutional Court rule on the request for legal protection that was granted in favor of an environmental group and which is keeping the mine's operations in a state of paralysis.
The project has been paralyzed since an environmental organization filed an request for legal protection against the mine, arguing that the Ministry of Energy and Mines did not carry out the necessary community consultations before authorizing the licenses.
In 2012 gold exports to Canada amounted to $377 million, equivalent to 54% of the total exported by the region that year, but four years later the figure has fallen to 0.
Figures of the information system on the Gold Market in Crude, Semi Wrought or Powder form in Central America, compiled by CentralAmericaData's Business Intelligence Unit: [GRAFICA caption = "Click to interact with the graph"]
The Mining Exploitation Project Niquegua Montufar II, run by Compañía Guatemalteca de Níquel, and the one called Tajmulco II, by Montana Exploradora de Guatemala, have been suspended by the government.
A statement issued by the Ministry of Energy and Mines indicates that "...Adhering to the appeal granted by the First Chamber of the Court of Appeals of the Civil and Commercial Branch constituted in the Court of Appeal, the Ministry of Energy and Mines (MEM), notified Compañía Guatemalteca de Níquel (CGN), of the suspension of its authorization license for operating the mining exploitation project Niquegua Montufar II. "
On August 16 and 17 industry representatives from around the globe will be taking part in business conferences and lectures on the role of mineral resources and the impact of the activity on the economy.
The II International Mining Congress is being organized by the Mining Chamber of Nicaragua and will be held on August 16 and 17 in Managua.
The conference will include business conferences, panels and lectures on the economic and social impact of mining on communities; the role of metallic and non-metallic mineral resources in developing countries and environmental challenges in modern mining.
In the nineties a village in Costa Rica was populated by dreams of a promising future driven by the exploitation of a gold mine. Today there are only 27 inhabitants, left without hope.
EDITORIAL
An article on Nacion.com reports on the ups and downs of the gold mine project in Crucitas, in Costa Rica, which eventually fell through because environmental forces prevailed over sustainable development, leaving a long series of damages to the country in terms of confidence in the security of investments, tax losses, and mainly in the hopes of human beings who believed in and supported the mine being a catalyst for progress in the area. As usually happens, the only winners were the lawyers who litigated and continue litigating for both sides.
The decline in the price of precious metals worldwide has forced the company to temporarily suspend operations at Cerro Blanco.
"The Cerro Blanco mine in Asuncion Mita, Jutiapa, will enter into a state of maintenance and care, ie only keeping areas active that are necessary for the development of the mine and its infrastructure, but it will not perform exploitation activities as was planned. "