An international arbitration tribunal has ordered Venezuela to pay for expropriated mines
Vancouver, Aug.23.─ An international arbitration tribunal has ordered Venezuela to pay a Vancouver-based mining company more than US$1.2 billion for expropriating its gold mines.
Venezuela took over Rusoro Mining's investments in the country as part of a nationalization of the gold industry in 2011.
Rusoro Mining Ltd. (TSXV:RML) said Tuesday the money is due immediately and it expects that Venezuela will comply with its international obligations.
Company director Gordon Keep said Rusoro Mining was pleased with the decision and looked forward to talking with the Venezuelan government.
"I'm quite certain there will be a conversation," he said ...
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