A Bad Deal for Everyone
NZ PM on Investor-State in TPP: Don't Count on It

CAFTA Taking Salvadoran Taxpayers to the Bank...Again!

On Monday, the World Bank's International Centre for Settlement of Investment Disputes (ICSID) heard the latest in yet another CAFTA-investment mining case against El Salvador. This time, Milwaukee-based ComGold imagemerce Group Corporation is trying to squeeze at least $100 million out of El Salvador's taxpayers. The mining firm brought the case after its environmental permits for its gold mining and milling operations in Northeastern El Salvador were revoked after the company failed its environmental audit. At stake is whether investors will be able to undermine El Salvador's environmental policies using the controversial investor rights of the Central American Free Trade Agreement.

The backdrop for this case is rising concerns in El Salvador about the impact of mining. Leaders of El Salvador’s major political parties, the Catholic Church and a large civil society network have increasingly expressed concerns about mining companies’ operations over past years. At the same time, intimidation and threats against civic groups raising concerns about mining issues have escalated. In the past year and a half, three prominent anti-mining activists were murdered.

Check out Public Citizen's backgrounder on the Commerce Group case for more details.

 

 

Print Friendly and PDF

Comments

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Working...
Your comment could not be posted. Error type:
Your comment has been posted. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.

Working...

Post a comment

Your Information

(Name and email address are required. Email address will not be displayed with the comment.)