Canadian miner will sue Costa Rica for $1bn

Canadian gold miner Infinito Gold (TSX.V:IG) says it will sue the Costa Rican government for $1 billion after a new mining law in 2011 rendered its open-pit mine illegal.
The company has invested $92 million in the Las Crucitas project which, according to the company, had a profit potential of $1 billion.
In 2008 Infinito obtained a mining concession for the 261-hectare project in the northern region of Crucitas. But after an outcry from some politicians and environmental groups, a court decided to cancel the permit. The project would have destroyed 190 hectares of forest.
http://www.mining.com/canadian-miner-will-sue-costa-rica-for-1bn-88217/?utm_source=digest-en-au-131004&utm_medium=email&utm_campaign=digest