In the face of this action, Renco has retaliated, and sued Peru before an international investment tribunal that has been convened under the terms of the U.S.-Peru free trade agreement. Renco is seeking $800 million in damages for the cost of complying with Peru’s environmental and mining laws. The company is also demanding that the international tribunal issue a declaration that Peru, not Renco, is exclusively liable for personal injury claims in a case filed on behalf of children from La Oroya before a Missouri state court in the U.S........
Apparently to avoid such a “negative business climate,”Ira Rennert invested in Peru in 1997. His company, Doe Run Peru, bought the La Oroya complex, which can refine both base metals like lead, copper and zinc and precious metals like gold and silver. DRP promised to pay for a large part of the environmental clean up at the La Oroya site, including construction of a new sulfuric acid plant. But DRP never built the sulfuric acid plant; it also failed to meet deadlines under its government-mandated remediation plan
http://upsidedownworld.org/main/news-briefs-archives-68/3581-peru-trade-deal-injustice-for-the-children-of-la-oroya
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