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Almaden Minerals Initiates Arbitration Proceedings Against Mexico at International Centre for Settlement of Investment Disputes
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Almaden Minerals Initiates Arbitration Proceedings Against Mexico at International Centre for Settlement of Investment Disputes
Jun 17, 2024 5:17 AM

07:50 AM EDT, 06/17/2024 (MT Newswires) -- Almaden Minerals ( AAUAF ) said on Monday that it has initiated international arbitration proceedings against Mexico at the International Centre for Settlement of Investment Disputes

The company contends that Mexico breached its obligations by allegedly taking steps that blocked the development of the Ixtaca project. Almaden also alleges that Mexico retroactively terminated the company's mineral concessions, which led to a loss of the company's investments in the country.

Almaden must now submit an initial and preliminary estimate of damages claimed.

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