Angostura gold project in northeastern Colombia. Credit: Eco Oro Minerals
Eco Oro Minerals (CSE: EOM) is seeking an annulment of a recent tribunal ruling that awarded the company no damages in its arbitration case against the Republic of Colombia over the loss of its mining concessions.
In 2012, Colombia’s national mining agency decided not to renew most of the mining concessions held by the company at its Angostura gold property in Santander province due to environmental concerns. The decision was also backed by a constitutional court ruling.
According to Colombian authorities, the main deposit at Angostura is located in an area called the Santurban páramo that is protected under law.
Eco Oro in 2016 proceeded to fight the decision by bringing the case to the International Centre for Settlement of Investment Disputes (ICSID), arguing that the Colombian government restrictions amounted to an…
