Argonaut Gold Completes Acquisition of Castle GoldWednesday, February 24, 2010 The transaction includes 50% of gold mine “El Sastre”, located to the North of Guatemala City. Canadian company Argonaut Gold announced it has concluded the acquisition of Castle Gold, who owned mines in Mexico and Guatemala. International Litigation Over Mine in Costa RicaMonday, February 10, 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. Ascot Mining intersects Cajeta vein in Costa RicaMonday, November 10, 2008 Veritas Gold, a subsidiary of Ascot Mining, claims to have discovered high grade gold. A 150m main access tunnel was driven to successfully intersect the targeted Cajeta vein and a one-tonne bulk sample was obtained, which was crushed and processed to determine the gold content. Assaying returned grades of 41.2 grams per tonne. Costa Rica: Crucitas Gold Mine Hits another BarrierMonday, April 19, 2010 A Contentious-Administrative Tribunal issued a ruling temporarily preventing the mine from operating. The ruling is in response to a complaint filed by the Flora and Fauna Preservation Association, who seeks to permanently shut down the gold mine. Crucitas Mine in Costa Rica Halted by Environmental LawsuitsTuesday, April 27, 2010 The open pit gold mine, property of Infinito Gold Ltd, is unable to operate due to renewed lawsuits from environmentalist groups. Crucitas’ operations were initially suspended in 2008, but in early April 2010, the Constitutional Court green lighted them again. Costa Rica: Court Sustains Measures Against Crucitas Gold MineWednesday, June 16, 2010 An appeals court maintained a series of precautionary measures hampering the development of Crucitas gold mine, owned by Infinito Gold. The court’s decision was based on a “in dubio pro natura” principle, which implies prevention and precaution in favor of natural resources. The measures against the company will remain in place until a final ruling is issued. Crucitas Mine in Costa Rica: Key FiguresMonday, September 7, 2009 Infinito Gold, owner of the strip mining project "Crucitas" in Costa Rica, presented investors details of the controversial $66 million mine. The company reviewed the mine's total gold output at 940.000 ounces, raising the Net Present Value of the project to $127 million. B2Gold Studies Reopening Bellavista Mine in Costa RicaMonday, May 23, 2011 The Canadian mining company is looking for new land for the installation of a processing plant. Production at the mine has been paralyzed since 2007, when a landslide caused damage to the gold mining zone and affected the factory’s processing. Construction of gold mine suspended in Costa RicaWednesday, October 22, 2008 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. Litigation Between Costa Rica and Canadian Mining Company SuspendedMonday, July 27, 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. Tougher Controls for Canadian Mining CompaniesFriday, January 29, 2010 Canada’s Supreme Court has ruled that Canadian mining corporations must conduct more detailed environmental impact studies. Several mining companies from Canada operate in Central America. Some of them include Breakwater Resources (Honduras), Inmet Mining Corp (Panama), Petaquilla Minerals Ltd (Panama), B2Gold Corp (Nicaragua), Argonaut Gold (Guatemala) and GoldCorp (Guatemala and Honduras). Moratorium Prevents Mine Reopening in Costa RicaThursday, January 19, 2012 The government has denied a Canadian company a license. The Costa Rican authorities in the mining sector have declined the request to reopen the Bellavista gold mine by the Canadian company B2 Gold, arguing that the act would be contrary to the national moratorium on mining. Mining Sludge Recycled into Building MaterialsTuesday, May 29, 2012 Petaquilla Gold, the largest gold mine in Panama, has announced a plant for the manufacture of tiles, bricks and slates based on clay residues from the metal extraction process. Petaquilla Gold is venturing into the production of building materials to create a clay products factory, Petarcilla SA, which will use waste from the grinding and extraction process at the Molejón gold and silver mine. Miner Proposes Costa Rica Agreement or $1.1 Billion LitigationFriday, April 5, 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. Crucitas Mine, Legal Uncertainty and Foreign InvestmentFriday, November 26, 2010 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. |
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