Wednesday, April 24, 2024

Logo Central America Link

Canadian miner sues for $700 million in Colombia

Friday, April 21, 2017

Gran Colombia Gold is in the middle of a grievance with the Colombian government. The Canadian-registered gold and silver mining firm has been struggling to manage what some would call “illegal mining” and others might call “informal mining” on its holdings.

Dating back even further, the company has encountered controversy and resistance to a plan it had to create a large open-pit mine in central Colombia.

Now, Gran Colombia Gold is seeking more support from the Colombian government to deal with its concerns, and a recent report from Canadian publication the Financial Post claims that the company has already filed a $700 million suit against the state, alleging a violation of the free-trade agreement between Canada and Colombia.

Source: Finance Colombia