Pacific Rim Files US$315 Damage Claim in Dispute With El Salvador Government
"Pacific Rim Mining Corp. (PMU.TO) says its U.S. subsidiary has filed a US$315-million damage claim against the Government of El Salvador," Canadian Press reported.
It said: "The claim by PacRim Cayman LLC is part of arbitration hearing over a failure by the government to issue necessary mining licences for the company's El Dorado gold project. Pacific Rim said Monday that the arbitration is in its final, merit-based phase before the World Bank's International Centre for Settlement of Investment Disputes. The tribunal will determine whether El Salvador broke its investment laws by refusing to issue the necessary mining licences for the project."
PMU shares gained half-a-cent to $0.06.