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en/el-salvador-oceanagold-fails-to-pay-8-million-intl-arbitration-tribunal-award-280-ngos-demand-the-company-leaves-the-country#c153031

280 Organizations with over 180 million members worldwide tell OceanaGold to abandon lost suit against El Salvador and to “Pack Up and Pay Up”

Author: 280 Organizations around the world, Published on: 21 February 2017

Today, 280 organisations based in five continents sent a statement to the CEO and Board of Canadian-Australian company OceanaGold demanding that it leave El Salvador and pay US$8 million to that government, as demanded by an investor-state tribunal in October…The suit exposed the extreme pro-corporate bias of investment protection clauses in current free trade agreements like NAFTA and CAFTA. Over seven years, El Salvador paid out over US$13 million in legal costs and fees, and the process cast a chilling effect on public policymaking in the country over a possible ban on metals mining…

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Related companies: OceanaGold Pacific Rim Mining