Codelco commences arbitration proceedings against Ecuador before ICSID in connection with Llurimagua mining project

The Chilean company Codelco, the world's largest copper producer, announced on 24 December 2021 that it had notified the General Secretariat of the International Centre for Settlement of Investment Disputes (ICSID) of a request for arbitration against Ecuador under the bilateral agreement entered into by the Government of the Republic of Chile and the Government of the Republic of Ecuador for the Reciprocal Promotion and Protection of Investments.