ICSID—no damages awarded against Costa Rica for BIT breach (Infinito Gold v Costa Rica)

Table of contents

• What did the tribunal decide?

Article summary

Law360: An International Centre for Settlement of Investment Disputes (ICSID) arbitral tribunal decided that Costa Rica will not have to pay a Canadian gold-mining company damages for revoking its permit to operate the Las Crucitas mining project following concerns that the open-pit mine in the northern part of the state would harm endangered species’ habitats, despite finding the respondent state in breach of its fair and equal treatment obligation under the relevant bilateral investment treaty.