HeadlinesBriefing favicon HeadlinesBriefing.com

Lupaka Gold Sues Peru Over $69M Arbitration Award

Bloomberg Markets •
×

Lupaka Gold Corp. has filed a lawsuit in US federal court seeking to enforce a $69 million arbitration award against Peru over violent protests that halted operations at its Invicta mine. The Canadian gold mining company won the award last year after an arbitration panel found the Peruvian government failed to protect its operations from rural community protests.

This marks the second major arbitration dispute between Peru and international investors in recent years. The case follows a similar pattern to Kuntur Wasi's successful $91 million collection after a US court confirmed their award. Peru's finance ministry, which represents the country in investor disputes, declined immediate comment on the latest lawsuit.

The lawsuit signals growing frustration among foreign companies operating in Peru, where mining operations frequently face community opposition. Lupaka Chairman Gordon Ellis warned that Peru's refusal to comply with international arbitration obligations could deter future investment in the country's mining sector.