Almaden Minerals (TSE:AMM) has released an update.
Almaden Minerals Ltd. has filed for international arbitration against Mexico, alleging breaches under the CPTPP that hindered the development of their Ixtaca project and led to the termination of their mining concessions. Despite attempts at resolution, including a single consultation meeting, the dispute remains unresolved, prompting Almaden to seek damages of at least $200 million. The Ixtaca project, discovered in 2010 and boasting significant potential output and economic benefits, now hangs in balance as arbitration progresses.
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