The Galway caseAnother ICSID case against Colombia is the "Galway Gold" case . The longer the Arbitration court waits with a decisionin our case, the more they give Colombian politicians the feeling they can breach international agreements without financial risks. Recently the company working on the Galway case released an update about their case and mentioned also the Eco Oro case.
Here is a quote from that company about our case.
"...
Eco Oro Minerals Corp. (“Eco Oro”) also has an arbitration ongoing against the Government of Colombia under the FTA pending before the Tribunal. In its arbitration, Eco Oro has alleged that Colombia breached its obligations under the FTA in failing to compensate Eco Oro for the losses incurred as a consequence of Colombia’s prohibition of mining in the pramos. The prohibition on mining is based upon the same FTA and legislative changes and Colombian Court decisions that Montauk’s arbitration claims against Colombia are based on. As such, Montauk management believes that Eco Oro’s claims against Colombia may be sufficiently similar to Montauk’s claims against Colombia. On September 9, 2021 the Tribunal in the Eco Oro arbitration issued its “Decision on Jurisdiction, Liability and Directions on Quantum” (the “Decision”). According to a procedural order issue by the Tribunal, the Tribunal ruled that it had jurisdiction over the claims raised by Eco Oro, and that Colombia acted in breach of Article 805 of the FTA, entitling Eco Oro to damages. The Procedural Order also ordered the parties to file additional submissions in response to certain questions regarding the quantum of Eco Doro’s damages. Those questions were directed to be answered within 120 days, although depending on the parties’ position, there was the possibility that deadline could be extended, including for an additional 120 days briefing period. After the matter is fully briefed, the Tribunal in the Eco Oro arbitration is expected to render a decision on the amount of damages. The Tribunal’s website currently lists the decision on damages as” pending”. The Tribunal considers each case before it on its own facts. The Tribunal in Montauk’s arbitration is not bound by any decision made by the Tribunal in Eco Oro’s arbitration. Nonetheless, Montauk management believes that the recent Decision issued by the Tribunal in the Eco Oro arbitration finding jurisdiction and liability by Colombia (in an amount to be determined) provides useful guidance in Montauk’s arbitration.
Montauk’s management is pleased with how the Arbitration has proceeded to date, which has been consistent with Montauk’s expectations. ..."
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Do they know more, then they can publish ?
source: https://galwaygoldinc.com/2023/10/montauk-metals-provides-further-update-on-arbitration-process-and-announces-non-brokered-private-placement/