Adventus wins ruling on environmental permit, but Silvercorp deal remains in jeopardy

Date:

The lawsuit specifically raised procedural allegations about the sufficiency of the consultative process followed by MAATE in issuing the permits. A successful challenge would effectively see Adventus’ environmental permit revoked.

However, during this week’s court proceedings, it was ruled that this consultative process complied with application legal requirements in Ecuador.

According to Adventus, as the legal action did not raise any allegations about the substance of the El Domo-Curipamba environmental permit itself, the company was allowed to continue construction on the project while the lawsuit was outstanding.

Meanwhile, the group of locals who filed the action is expected to appeal the decision, which the company estimated could take an additional three to six months.

Silvercorp deal

The legal challenge to Ecuadorian authorities, despite the positive ruling, has put Adventus’ previously announced takeover by…

Read more…

Share post:

Subscribe

spot_imgspot_img

Popular

More like this
Related

Tampa RV giant Lazydays to delist from Nasdaq

Tampa-based Lazydays Holdings Inc., one of Florida’s most recognized...

Granite Geek: New Hampshire might get access to ‘balcony solar’

I had solar panels put on my roof six...

TSX Today: What to Watch for in Stocks on Monday, November 10

Despite firm gold and silver prices, Canadian stocks...

While BNB and DOT Struggle Under Market Pressure, BlockDAG’s Presale Soars Past $435M!

As market-wide fear grips the sector, the Binance Coin...