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LatinNews Daily - 09 August 2018

In brief: Uruguay

Uruguay: Uruguay’s President Tabaré Vázquez has told a local radio station, Radio Sarandí, that the mining company Aratirí, a subsidiary of Zamin Ferrous (which was set up by an Indian magnate), has formally filed a lawsuit against Uruguay for US$3.53bn. Presented on 3 July before the United Nations Commission on International Trade Law (Uncitral), the company has filed evidence of its dealings with the Uruguayan government having initially presented its complaint in 2017. The company, which in 2011 presented a US$3bn iron ore project to be located on the borders of Florida and Treinta y Tres departments, alleges that a new mining law passed in 2013 “changed the rules of the game” and led to the eventual cancellation of the project.

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