translated from Spanish: Codelco seeks arbitration against Ecuador and Enami EP over Llurimagua copper project

Chilean state-owned Codelco, the world’s largest copper producer, said Thursday that it requested arbitration before the International Chamber of Commerce against Ecuador and the National Mining Company of ecuador (Enami EP) for differences over the Llurimagua copper project.
In November, the copper industry had noted that its Ecuadorian pair had not complied with an agreement reached in 2019 to jointly develop the project, which is in the advanced exploration stage.
“Several agreements signed since 2008 support the commitments made by Ecuador and Enami EP. However, they have not complied with the agreements reached,” the Chilean firm said in a statement.
“Codelco determined to exercise its right before that instance in safeguarding the project and the investments made,” he added.
The company hoped that the process would enable a “mutual benefit between the parties” agreement to be reached and allow the development of the project.
Llurimagua is located about 80 kilometers northeast of Quito and has faced resistance for years from a community surrounding environmental concerns.
The existing agreements establish a Paris-based arbitration before the International Chamber of Commerce (ICC) for dispute resolution, the Chilean miner detailed.

Original source in Spanish

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