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