In ICSID arbitration Eco Oro Minerals Corp. v. Republic of Colombia, CRA consultants supported respondent’s counsel and testified in relation to over $760 million in damages. Claims in the case related to the alleged expropriation of the Angostura gold exploration property in Colombia’s Santander region, unique for its high-altitude páramo (moorland) ecosystems. CRA’s reports assessed the fair market value of the property by examining transactions and market values of similar assets while accounting for the unique geology, cost structure, and expansion potential of each. The team consisted of James Burrows, Tiago Duarte-Silva, and Michael Loreth.
Eco Oro Minerals Corp. v. Republic of Colombia (ICSID Case No. ARB/16/41)