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 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.
The Bellavista mining company has gone to the Administrative Court seeking permission to reactivate gold mining activities in Puntarenas.
According to the general manager of Metales Procesados MRW S.A., Donald Brown, the suit against the Costa Rican government was filed last May but the information had not been released until now. The official says they are not seeking any compensation, the intention is only to be allowed to reactivate operations.
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.
A 15-year, $127 million investment was suddenly halted by a court canceling a mining concession to Industrias Infinito in Costa Rica.
On Wednesday a court ruled that there were irregularities in the issuance of permits awarded to the Canadian mining company for exploiting a gold mine, and decided to annul the concession.
Representatives of the company, which has invested about $ 127 million in the project, reacted surprised, saying they did not understand the verdict when "the highest court (Constitutional Court) in the country endorsed the Crucitas project as environmentally, legally, constitutionally and socially viable.”
Attorneys, Alvaro Sagot and Mario Peña, presented an action against the unconstitutionality of the Government degree declaring the Crucitas mining project to be in the public interest.
The decree, 34801-Minaet, was published in July 2008 and was signed by President Oscar Arias and the minister of the Environment, Roberto Dobles.
In the lawyers' opinion, the decree overrides socio-environmental aspects, and hence is serious violation of the constitution.
The end of a mining moratorium that was imposed by the Government of Abel Pacheco and which ended last July, caused a rush of miners to the country.
Between July and September 2008 there were at least 203 requests for exploration permits above ground and and 14 below.
In three months, the number of exploration requests to exploit mining areas for limestone, construction gravel or metals on Costa Rican soil reached 203.
The Supreme Court of Costa Rica has ordered the suspension of works at the Crucitas gold mine due to enviromental claims.
Infinito Gold Ltd, the company responable for the developmen of the mine, reported that the court had ordered them to stop works to clear the property while they review the case presented by a group of environmentalists.
The Canadian company had already started to clear the land last week, but had stopped the works until the court makes a decision. The court has not given a date for its final decision.