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South American Silver Corp. (TSX:SAC) announced notifying the Plurinational State of Bolivia of an investment dispute between South American Silver and Bolivia.
As quoted in the press release:
Notification of the investment dispute triggers a six-month cooling-off period during which the disputing parties may negotiate a settlement. If settlement cannot be reached within the cooling-off period, South American Silver intends to file for international arbitration under the Arbitration Rules of the United Nations Commission on International Trade Law (UNCITRAL) claiming full compensation based on fair market value of the Malku Khota project.
South American Silver, President and CEO, Philip Brodie-Hall, stated:
We had made significant investments in Bolivia leading to the discovery of the Malku Khota silver-indium gallium deposit to which we added substantial value through the application of our exploration expertise and our unique processing technology. It is most unfortunate that development of the project has been cut short by the nationalization of our concessions but we are confident that the international arbitration process gives us the means to recover the full value of our project.
Click here to read the South American Silver Corp. (TSX:SAC) press release
