Mayaniquel Mining Operation, Guatemala. Courtesy photo Swiss Mining Company Initiates Arbitration Case Against Guatemalan Government
International Metal Supply Holding says the Guatemalan government has refused to renew the export license for its Mayaniquel nickel operations, which were cleared from OFAC sanctions in January.
October 17, 2024 at 06:24 PM
3 minute read
A Swiss mining company has threatened the Guatemalan government with an investment arbitration case after its nickel mining operations got shuttered two years ago.
The mining operations ceased after the U.S. Treasury Department Office of Foreign Assets Control imposed sanctions in late 2022 on Mayaniquel, a unit of Switzerland's International Metal Supply Holding, for alleged bribery of Guatemalan officials perpetrated by a Russian national who was employed by another nickel miner.
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