Ruthless exploitation in the raw materials sector
How corporations are using the investment court system to enforce their interests
On 14 October 2016, the Australian–Canadian mining business OceanaGold lost a USD 250 million lawsuit for compensation against El Salvador. The company had been seeking ‘redress’ for its past investments and lost profits. For several years, the Canadian concern Pacific Rim, which OceanaGold went on to acquire, had been involved in gold explorations in El Salvador. In 2008, the government of the Central American country refused to grant the company a mining license.