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Award Announced in Bear Creek Mining's Santa Ana Arbitration
Dec. 01, 2017 08:42AM PST
Silver InvestingBear Creek Mining Corporation (TSX Venture: BCM) announces that the Tribunal of arbitrators hearing the Company’s Santa Ana arbitration claim (the “Arbitration”) at the International Centre for the Settlement of Investment Disputes (“ICSID”) has rendered an Award (the “Award”) of approximately US$ 30.4 million in favor of the Company, which Award includes interest and arbitration costs (including …
Bear Creek Mining Corporation (TSX Venture: BCM) announces that the Tribunal of arbitrators hearing the Company’s Santa Ana arbitration claim (the “Arbitration”) at the International Centre for the Settlement of Investment Disputes (“ICSID”) has rendered an Award (the “Award”) of approximately US$ 30.4 million in favor of the Company, which Award includes interest and arbitration costs (including attorneys’ fees).
Anthony Hawkshaw, President and CEO of Bear Creek stated:
“With the Arbitration concluded, we look forward to accelerating the advancement of our Corani project in conjunction with the Government of Peru and the Corani communities.”
The Arbitration was initiated by the Company in 2014 and arose from, among other things, the Peruvian Government’s issuance of Supreme Decree 032 in June 2011, which nullified Bear Creek’s rights to operate at the Santa Ana project.
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