International court rules in favor of Venezuela over gold mines
The International Centre for Settlement of Investment Disputes (Icsid) ruled that Venezuela did not breach contractual rights
In the ruling, the arbitration court stated that Venezuela did not breach the Venezuela-Canada bilateral agreement and concluded that Venezuela's decision to terminate the agreement and take over control of Las Cristinas mine is by no means an expropriation.
According to the official communiqué, the top court established that the relevant investment was pursuant to the contract entered into by Venezuelan and Canada. Hence, Venezuela, complied with the provisions on standard fair and equitable treatment set forth in the bilateral agreement for the Promotion and Protection of Investments.
In the claim, Vannessa Ventures sought compensation for USD 1 billion from the Venezuelan government.
Translated by Jhean Cabrera
Alarmed because of the emotional breakdown suffered by his ally and his destiny; Fidel Castro requested asylum for deceased Venezuelan President Hugo Chávez in Madrid back on April 11, 2002. "The story had been much darker and more entangled than what some people's imagination has wanted to believe in and disclose," former Spain's President, José María Aznar, upholds in his autograph book published by late 2013.