Eco Oro Minerals (CSE: EOM) is looking for an annulment of a current tribunal judgment that granted the firm no problems in its settlement situation versus the Republic of Colombia over the loss of its mining giving ins.
In 2012, Colombia’s nationwide mining firm decided not to renew the majority of the mining giving ins held by the firm at its Angostura gold building in Santander district because of ecological worries. The choice was likewise backed by a constitutional court judgment.
According to Colombian authorities, the major down payment at Angostura lies in a location called the Santurban páramo that is safeguarded under regulation.
Eco Oro in 2016 continued to combat the choice by bringing the situation to the International Centre for Negotiation of Financial Investment Disputes (ICSID), saying that the Colombian federal government constraints totaled up to an indirect expropriation of its financial investment.
The Globe Financial institution tribunal acknowledged in 2021 that the Colombian federal government had actually breached its open market contract with Canada relative to its therapy of Eco Oro’s Angostura task, however asked for more info prior to picking the possible problems.
Eco Oro had actually been looking for as long as $764 million in problems in the settlement, specifying that it had actually currently spent $250 million and been servicing the task because the late 1990s. The firm, previously called Greystar Resources, has nothing else mining tasks.
No damages judgment
On July 15, 2025, the ICSID provided a judgment that granted no problems to the firm, a choice which the firm states is “inside inconsistent and neglects the evidentiary document.”
In feedback, Eco Oro has actually requested an annulment of this judgment. The application will certainly be examined by a three-member impromptu board assigned by the chairman of the ICSID management council.
The annulment case, the firm states, is prepared for to take about 18 to 36 months from the day of enrollment.
To money the settlement initiatives and fund continuous procedures, Eco Oro has actually prepared a $4.5 million funding backstopped by GrayWolfe Resources and various other financiers.
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