John Cavanagh and Robin Broad, Saturday, 06 September 2014 12:23, OtherWords
An obscure tribunal housed at the World Bank in Washington, D.C. will soon decide the fate of millions of people.
At issue is whether a government should be punished for refusing to let a foreign mining company operate because it wants to protect its main source of water.
The case pits El Salvador's government against a Canadian gold-mining company that recently became part of a larger Australian-based corporation. WhenOceanaGold bought Pacific Rim last year, it identified the Salvadoran mining prospects as a key asset even though gold prices have sunk by more than a third from their 2011 high of more than $1,900 an ounce.