| |
|
Date: November 19, 2009 Update, CAFTA Proceedings Begin as Tribunal Constituted, Pacific Rim Mining web site (November 2009).
...
This is a key milestone in Pac Rim's claim as the arbitration process will now get fully underway", states Tom Shrake, CEO. "The next step is for the Arbitral Tribunal to convene a hearing to set out the further procedures in the arbitration. The shareholders of Pacific Rim can rest assured that although the arbitration will proceed as quickly as possible, we continue to maintain a dialogue with the Government of El Salvador to find a resolution to our dispute to the benefit of both parties. Pacific Rim has worked with both local residents and their elected officials, and the Government of El Salvador, to design a mine plan for the El Dorado deposits that sets new environmental protection standards for Latin America. We are committed to responsible mining that can put the people of Cabanas back to work in these extremely difficult economic times. El Salvador has tremendous gold wealth that can be translated to jobs and economic prosperity in the poorest region of the country in a safe and responsible manner".
...
Date: November 16, 2009
El Salvador's gold fight goes international
After activists block their permit, Canadian company uses US trade agreement to sue Salvadoran gov't
Five representatives of five organizations in El Salvador that form part of the National Coalition Against Mining, known as La Mesa, were in Washington, DC last month to accept the Letelier-Moffitt International Human Rights Award. The recognition comes at an interesting time as the group's successes in blocking mining exploitation in their small country, have brought about a unique legal situation. Namely, a Canadian mining company is suing the government of El Salvador for $100 million, through a U.S. subsidiary under the Central American Free Trade Agreement (CAFTA). The Real News followed the group of activists around Washington, DC, and interviewed the CEO and President of the company behind the suit, Pacific Rim. Produced by Jesse Freeston.
If the video player doesn't open, click on the image below and go the RNN site and watch the video there and then judge the El Salvador country risk.
| Banner ad GoldMinerPulse. |