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Article

20 Dec 2013

Author:
MiningWatch

Over One-Quarter Million People Side with Costa Rica in Imminent Battle with Canadian Company Infinito Gold

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A petition circulating on sumofus.org rapidly obtained almost 300,000 signatures this past week…The petition…calls on Calgary-based Infinito Gold to stop threatening Costa Rica with a $1 billion lawsuit over the Crucitas mine project near the border with Nicaragua…The company lost its bid to build a mine in successive court decisions in Costa Rica and has been threatening to bring a case to the World Bank’s investment arbitration tribunal, ICSID, in order to mine for lost profits…Your threatened suit against Costa Rica is quickly becoming a poster child for the problems with the international investment framework created by free trade agreements (FTAs) and foreign investor protection agreements (FIPAs) to prioritize corporate profits over the well-being of communities, workers, and the environment...For the last 20 years, Canada has pursued and negotiated trade and investment agreements that promote and protect the rights of investors at the expense of human rights, labour rights, and environmental standards.