Colombia has resolved a seven-year legal dispute with Aris Mining through a negotiated agreement that avoids a potential US$380 million penalty. This deal, the first of its kind at the award stage, ends the international arbitration started in 2018 under the Canada-Colombia FTA. The National Agency for Legal Defense of the State, Andje, led talks promoting responsible mining practices and sustainable development.
The agreement between Colombia and Aris Mining marks a milestone in resolving investment disputes. Started in 2018 by Gran Colombia Gold Corp., the litigation passed to GCM Mining and finally to Aris Mining after its merger with Aris Gold in 2022. Filed at the International Centre for Settlement of Investment Disputes (Ciadi), the case was based on the Canada-Colombia Free Trade Agreement.
Andje highlighted that the months-long negotiations avoided a potential penalty of nearly US$380 million, the amount claimed by the company. "This outcome reflects our joint commitment with the Government of Colombia to work for security, promote responsible mining practices, and support sustainable development in the communities where we operate. We recognize and thank the active participation of Andje and the government entities involved in these conversations," stated Neil Woodyer, executive director of Aris Mining.
The deal suspended the arbitration process to pursue constructive solutions. "We are pleased to have resolved this complex matter through dialogue and cooperation, rather than resorting to arbitration. Both parties agreed to suspend the process to seek constructive solutions, and this agreement reflects the success of that collaborative approach," Woodyer added. This progress strengthens collaboration between the government and the company on responsible mining issues.