RE:RE:RE:RE:RE:gcmGran Colombia Gold sues Colombia for US $ 700 million The lawsuit is for breach of the Trade Promotion Agreement between the Republic of Colombia and Canada (the Colombia-Canada FTA). News W Radio Guerrilla ELN Latin America TLC Caldas Recommend on Facebook 0 Send to TwitterSend to Google PlusSend to LinkedinPin itSubmitTo printReport error Assess interestingoutrageousFuncontroversysurprisingboring 2 COMMENT La W 25/02/2017 - (1 days ago) According to the First Page portal , "the Canadian mining company Gran Colombia Gold Corp. (TSX: GCM), controlled by the same creators of Pacific Rubiales from which they left after the bankruptcy, decided to notify Colombia of the initiation of a" claim " (Demand) for US $ 700 million for breaching the Trade Promotion Agreement between the Republic of Colombia and Canada (the Colombia-Canada FTA). " "In the first instance, as provided for in the Agreement signed in 2013, on October 12, 2016, Gran Colombia Gold filed a Notice of Intent with the Foreign Investment Office of the Ministry of Foreign Trade of Colombia requesting the activation of the settlement mechanism of Controversies contemplated in the FTA with Canada for the claimant, "adds the well-known portal. First Page says that the controversy arises from two essential issues: "(I) the delay of the competent authorities (National Mining Agency, ANM, and mayors of the municipalities of Segovia and Marmato) to resolve the administrative amparo requested by the company in order to have evicted the illegal miners occupying the Areas corresponding to their mining titles, and the refusal by the mayors of the municipalities of Segovia and Marmato to execute the administrative amparos that have already been granted to the companies; Y (Ii) the inaction of the competent authorities in the face of the strikes, strikes and armed violence that have caused damage to the companies, as well as the attacks they suffered in February 2016 by the guerrilla group Army of National Liberation (ELN). The Marmato Project was acquired by the Canadian miner through Medoro Resources in 2011. It is located in the Department of Caldas and contains a total resource estimate of 14 million ounces of gold and approximately 90 million ounces of silver, "he says.