- Published on Monday, 13 February 2017 22:26
While OceanaGold, one of the largest mining companies in El Salvador, delays compliance with its obligation to compensate El Salvador, several social forces are demanding a metal mining ban.
OceanaGold company, which in 2013 acquired Pacific Rim, has until February 14 to determine if it will pay the compensation amounting to 8 million dollars to El Salvador as ordered by the International Center for Settlement of Investment Disputes (ICSID), a World Bank body last October.
The ICSID gave 120 days to review its ruling, which were taken by OceanaGold to decide whether they will comply with the arbitration award or they will submit a plea of nullity. El Salvador won the lawsuit against Pacific Rim / OceanaGold, which had been filed in 2009 by the company to request the State the payment of approximately 250 million dollars as compensation for not letting it exploit El Dorado mine in San Isidro, Cabañas.
In 2002, the company had started exploration works in the mine after acquiring permits, but it was never authorized to exploit it. El Salvador is Central America´s smallest country and also one of the countries with the highest levels of environmental deterioration. READ MORE