Wednesday, March 16, 2016

Organizations condemn Eco Oro Minerals’ warning that it could sue Colombia over efforts to protect water sources

Click here to access article from ISDS Platform.

Actually the article indicates that the Canadian mining corporation has plans to sue the nation because the country has taken actions to protect their water supply, and the actions will interfere with the corporation's profits under another "free trade" agreement with the same clause as the "investor-state dispute settlement" (ISDS) found in all these neoliberal agreements.
Civil society organizations condemn Eco Oro Minerals’ announcement that it will initiate international arbitration against the Colombian state. Eco Oro has stated its intention to sue Colombia under the investment chapter of the Canada Colombia Free Trade Agreement over measures that the Andean state has taken to protect the Santurbán páramo and páramos around the country from harmful activities such as large-scale mining.

Eco Oro Minerals’ Angostura proposed gold mine in Santurbán has financial backing from the World Bank’s International Finance Corporation.