The Canadian Miner Gold Group Mining requested the opening of arbitration at the International Center for Settlement of Investment Disputes (ICSID) of the World Bank against the Mexican State, due to a dispute that has lasted for more than 10 years in the courts and which has not been resolved.

The procedure was presented under the protection of the investment protection rules of the North American Free Trade Agreement (NAFTA), just four months after the expiration of the possibility of filing trade disputes with the rules of the treaty that preceded the current Mexico-United States-Canada treaty (USMCA).

It’s a statement, gold group recalled was involved in a dispute with DynaResource, Inc. in Mexican courts in connection with its subsidiary’s investment in DynaResource de México, SA de CV

“The litigation has dragged on for ten years, without compensation for the damage. The treatment and inaction of the Mexican courts resulted in the judicial expropriation of its subsidiary’s investment in DynaResource from Mexico, SA de CV and a miscarriage of justice in violation of Mexico’s obligations under the North American Trade Agreement (“T-LCAN”). The company, through its subsidiary, is seeking payment of damages as a result of Mexico’s violations of NAFTA,” Goldgroup said.

Next July 1, the deadline for filing requests for the settlement of disputes according to the rules of the NAFTAgiven that upon entry into force of the USMCAIn July 2020, a three-year transition period was set to allow for the handling of potential trade disputes by the governments of treaty partner countries or their investors.

DynaResource from Mexico owns 100% of the San José de Gracia gold exploration project located in the State of Sinaloa. In addition, the Company operates its wholly owned Cerro Prieto heap leach gold mine in the state of Sonora, Mexico.

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