Canadian mining firm Infinito Gold announced last week that it has secured funding from a lender to continue pursuing damages stemming from Costa Rica's cancellation of the firm's gold mining concession in 2011.
A San José court on Monday acquitted former Environment and Energy Minister Roberto Dobles Mora of all charges that he illegally granted a contract to a private mining company connected to a relative while he was in office.
Infinito Gold Ltd. listed more than $160 million in working capital deficit including loan principle and interest, according to a statement from the company published on the CNW press wire. “The Company has concluded that it will not be possible for it to continue operations,” the statement concluded.
A criminal court in San José on Wednesday sentenced former Environment Minister Roberto Dobles Mora to a three-year suspended sentence for breach of public duty in granting the British Columbia-based mining company Infinito Gold an open-pit gold mining concession in Crucitas, in the northern Alajuela canton of San Carlos, in 2008.