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Article

14 Oct 2016

Author:
The International Allies against Mining in El Salvador

There Are No Winners: After Seven Years and Millions of Dollars, Pac Rim Mining Loses Suit Against El Salvador

Civil society groups worldwide that support Salvadoran communities and organizations working on mining and environmental issues cheered today’s decision by the ICSID tribunal that Pacific Rim/OceanaGold’s $250 million lawsuit against El Salvador is without merit.  In a ruling released today, the investment tribunal rejected the company’s claims and ordered it to pay $8 million in legal fees and costs to the government of El Salvador...“The fact that Pac Rim – now OceanaGold – could sue El Salvador, when it has never had a licence to operate, is an abuse of process”...“By allowing transnational companies to blackmail governments to try to force them to adopt policies that favor corporations, investor-state arbitration undermines democracy in El Salvador and around the world,”...“Regardless of the outcome, the arbitration has had a chilling effect on the development and implementation of public policy necessary to protect the environment and the human right to water”...“What we have now is a clear example of what is wrong with investor-state-dispute-settlement clauses"..."Let us be clear: El Salvador has not ‘won’ anything in this arbitration. El Salvador had to pay more than $12 million just to defend itself..."