08:06 AM EDT, 03/21/2025 (MT Newswires) -- Almaden Minerals ( AAUAF ) on Friday said it filed a US$1 billion claim regarding its arbitration proceedings with Mexico over the complete loss of their investment in the Ixtaca project in Mexico in 2023.

Almaden held 100% of the Ixtaca precious metals project, while Almadex (DEX.V) held a 2% net smelter returns royalty. The claim is being prosecuted under the International Centre for Settlement of Investment Disputes.

The Memorial outlines how the Mexican government blocked the development of the Ixtaca project and ultimately terminated Almaden's mineral concessions that had been granted in 2003 and 2009, thereby breaching the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) agreement.