Latin America & the Caribbean
Colombia / Eco Oro-01/Bucaramanga
Eco Oro Minerals Corp (formerly Greystar Resources Ltd) is a publically listed junior mining company headquartered in Canada. Eco Oro owns 100% of the Angostura gold and silver exploration project near Bucaramanga, in the Santander region of Colombia. IFC is supporting the feasibility study, environmental and social impact assessment (ESIA) and other needed ground works to prepare for the project development stage.
In June 2012, CAO received a complaint from local civil society committees in Bucaramanga, with the support of several international NGOs. The complainants raise concerns about the development of the gold mine in the Santurban Paramo. They contend that the mine development would have adverse impact on the quality and quantity of drinking water downstream and around the Paramo, which is the major source of water for the Bucaramanga region. The complainants are also concerned about what they see as irreparable environmental damage to the unique ecology of the Paramo. Furthermore, the complainants are of the opinion that the project is in violation of IFC’s social and environmental policies, and should not have received project approval.
The complainants originally requested that CAO keep their identities confidential. Subsequently, the complainants decided to publicly release the complaint and their identities.
The CAO found the complaint eligible for further assessment in July 2012. An Ombudsman team conducted a field trip in October 2012 to meet with the relevant stakeholders and discuss options for addressing the issues in the complaint.
During the assessment process, the CAO understood from the complainants that pursuing a dispute resolution process was not an option at this point in time. Given the voluntary nature of such processes, the CAO Ombudsman team finalized its assessment report and concluded its involvement in the case. In accordance with the CAO’s Operational Guidelines, the case has been transferred to CAO’s compliance function for appraisal of IFC's due diligence.
The complaint was formally transferred to CAO Compliance on November 29, 2012. The appraisal is underway. CAO's assessment report is available at the below links in English and Spanish, along with IFC's response.
- Project Name & Number
- Eco Oro 27961
- Extractive Industries
- Eco Oro Minerals Corp
- Latin America & the Caribbean
- Environmental Category
- US$9.6 million
- Eligible: Completed
- Assessment Period: Transferred
- Under Appraisal: In Process