SANTIAGO, Apr 8 (Reuters) – Chilean state-owned Codelco, the world’s largest copper producer, said on Thursday that it requested arbitration before the International Chamber of Commerce against Ecuador and that country’s National Mining Company (Enami EP) over disputes over the Llurimagua copper project.
In November, the copper company had indicated that its Ecuadorian counterpart had not fulfilled an agreement reached in 2019 to jointly develop the project, which is in the advanced exploration stage.
“Various agreements signed since 2008 support the commitments made by Ecuador and Enami EP. However, they have not complied with the agreements reached,” the Chilean firm said in a statement.
“Codelco determined to exercise its right before said body to safeguard the project and the investments made,” he added.
The company said it hopes that the process will allow for an agreement of “mutual benefit between the parties” and allow the development of the project.
Llurimagua is located about 80 kilometers northeast of Quito and has faced resistance for years from a neighboring community over environmental concerns.
The current agreements establish an arbitration based in Paris before the International Chamber of Commerce (ICC) for the resolution of controversies, the Chilean mining company detailed.
(Report by Fabián Andrés Cambero)