New Study Shows Dangers of Trade Agreements that Help Corporations Sue Govenments
“Debunking Eight Falsehoods” is a careful refutation of the arguments of a giant Australian/Canadian mining firm, Pacific Rim/OceanaGold, that is suing the government of El Salvador over that government’s decision to stop issuing new mining licenses. The Salvadoran government did this precisely because its citizens deemed the environmental and social costs too high. Pacific Rim’s proposed gold mine was in the fragile and already compromised watershed of the key river that supplies water to over half the country’s people.
Pacific Rim/OceanaGold is, according to a 2013 IPS study, one of 31 oil, gas, and mining corporations suing governments in Latin America in the International Centre for the Settlement of Investment Disputes (ICSID), based at the World Bank. ICSID is the most frequently used tribunal under existing pro-corporate, anti-democratic trade and investment rules.