Deal #3105

The project known as Angostura is compounded by 14 Mining titles. 2 of them have been sold to a new Investor of Abu Dhabi in the area (Minesa), although the transfer has not been done. The project is under uncertainty because of the delimitation of the Páramo area done by the Ministry of Environment and Sustainable Development. The company has started an arbitration process against the Republic of Colombia for more than USD 700 Million. This process is comprehended under the Free Trade Agreement signed by Canada and Colombia in 2008. This project has been extremely polemic due to its location in an area of high conservation value in an extremely fragile ecosystem which is vital for water sources. Several demonstrations held by thousands of people in Bucaramanga opposed to the project, although the traditional miners of the area of influence are in favor of it. Although the government has been sued by Eco Oro, it still remains as a High Relevance Project for Colombia, according to the government. On september 2021 the arbitration court decided that colombia government had to pay the company a compensation