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en/intl-organizations-condemn-eco-oro-minerals’-plans-to-start-arbitration-vs-colombia-over-efforts-to-protect-water-sources#c134329

Organizations condemn Eco Oro Minerals’ warning that it could sue Colombia over efforts to protect water sources

Author: Interamerican Association for Environmental Defense (AIDA), Committee in Defense of the Water & Páramo of Santurbán, Center for International Environmental Law (CIEL), MiningWatch Canada, Centre for the Investigation of Multinational Corporations (SOMO), Published on: 14 March 2016

Civil society organizations condemn Eco Oro Minerals’ announcement that it will initiate international arbitration against the Colombian state. Eco Oro has stated its intention to sue Colombia under the investment chapter of the Canada Colombia Free Trade Agreement over measures that the Andean state has taken to protect the Santurbán páramo and páramos around the country from harmful activities such as large-scale mining. Eco Oro Minerals’ Angostura proposed gold mine in Santurbán has financial backing from the World Bank’s International Finance Corporation. The company argues that it will lose money because of the demarcation of the páramo and the recent decision from the Constitutional Court of Colombia reaffirming the prohibition against mining in all Colombian páramos...The páramos are the source of 70% of the fresh water that is consumed in Colombia and are essential for mitigating climate change.

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