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Imposing mines through trade agreements?

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By Scott Cardiff

April 6, 2011

A number of mining companies have been filing for arbitration in international tribunals under trade and investment agreements to seek compensation for mines that governments decided should not go forward. That's correct: the elected government says "no" to a mine (due to community opposition, expected impacts, regulations, or other reasons), and the company then sues for compensation in the World Bank's International Center for Investment Disputes (ICSID).

One such case was dismissed and another filed just in the last month. The hearing for a third -- the case of Pacific Rim vs. El Salvador -- has recently been delayed. These are the latest in an apparent series of cases of mining companies seeking to make money in international tribunals or impose their bad projects on countries that don't want them.

In a decision last week, the ICSID ruled that Milwaukee-based Commerce Group could not bring its case before ICSID under the Central American Free Trade Agreement (CAFTA) because the company had not halted ongoing court proceedings in El Salvador. The company had been seeking damages exceeding $100 million. The technicality spared El Salvador further proceedings for those claims, but the government of El Salvador is still required to pay massive legal fees.

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Tagged with: infinito gold, pacific rim, commerce group, gold reserve, trade agreements, blackfire, crystallex, icsid


Newmont planning to advance Akyem mine project in Ghana Forest Reserve

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By Scott Cardiff

March 24, 2011

Colorado-based Newmont Mining announced today that they have approved funding to develop the Akyem gold mine project in Eastern Ghana. This destructive mine project would create an open-pit in a Forest Reserve, threaten water sources, and displace around nine thousand people from their homes, lands, or livelihoods.

Communities in Ghana have expressed great concern about the Akyem project, and their concerns have already stalled the mine project several times. WACAM and other community groups have protested over the company's plan to mine in a Forest Reserve, potential impacts on water supply, loss of access to land, and inadequate compensation plans for displaced communities. Newmont has already displaced some community members. In total, over a thousand people would lose their lands and homes, and thousands more would lose their agricultural lands. The mine would destroy approximately 340 acres (140 ha) of tropical forest and a quarter of the forest left in the Ajenjua Bepo Forest Reserve. In 2009, the project gained notoriety when it caused Newmont to receive the Public Eye Award for irresponsible practices.

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Tagged with: newmont, ghana, displacement, forest reserve, akyem


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