Eco Oro – formerly Greystar – Angostura gold under IFC CAO Review
In April 2011, I posted a blog entitled IFC-owned Greystar/Angostura gold development in trouble and wondered if
As detailed further on its
The CAO found the complaint eligible for further assessment. Following field trip in October 2012, to meet with the relevant stakeholders, and apparent lack of interest to resolve this case through dispute resolution, the case was transferred to CAO’s compliance function.
The latest – August 2013 – update notes that the CAO has issued Terms of Reference for a Compliance Investigation of IFC’s investment in Eco Oro Minerals Corp. The case is now in CAO’s audit phase. Shortly before that, Eco Oro released a
It will be interesting to watch how this process and the underlying project unfold in the coming months and years ahead. According to a recent Bloomberg
Where will the Angostura gold project go from here and what will be the lessons learned by the IFC and junior miners?