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Article

27 Mar 2017

Author:
American University, Institute for Policy Studies, MiningWatch Canada & Institute for Policy Studies

El Salvador: Intl. NGOs & Academics respond to OceanaGold on arbitration ruling ordering company to pay 8 million dollars

With OceanaGold’s attempt to rebut the facts of the letter signed by 280 organizations that collectively have over 180 million members, the company has made not only false but also nonsensical arguments. There is absolutely no legal foundation whatsoever for OceanaGold’s claim that it in order to pay the $8 million that it owes the Salvadoran government that it must wait for the ICSID tribunal’s supplementary decision regarding whether it must pay interest on this amount…[T]he ICSID ruling stated that the company has no right whatsoever to a concession. In addition, OceanaGold conveniently failed to mention that that not only did it lose (in a 3-0 vote by the ICSID panelists), but also that it was ordered to pay El Salvador $8 million…The fact that OceanaGold tries to hide its non-payment and non-response to El Salvador behind the existence of a pending request for a supplemental decision filed by El Salvador is outrageous…

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