LatinNews Daily Report - 20 June 2013

ECONOMY | Infinito Gold loses final appeal. On 19 June Costa Rica’s supreme court constitutional chamber (Sala IV) threw out the final appeal by Industrias Infinito, a subsidiary of Canada’s Infinito Gold, against the 2010 supreme court ruling annulling the mining concession for the exploitation of the Las Crucitas open pit gold mine in San Carlos, Alajuela, near the border with Nicaragua. The concession, which was granted in 2008 under the previous government led by former president, Oscar Arias (2006-2010), was annulled on the grounds that it contained irregularities. On 4 April, the company announced plans to sue the Costa Rican State for more than US$1bn if operations were not permitted to resume within the next six months. Environment & Energy Minister René Castro hailed the latest ruling as “totally congruent” with the position of the government of President Laura Chinchilla, which in 2010 passed a law banning open pit mining.

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