Almaden Minerals Ltd. has provided an update on its ongoing international arbitration proceedings against Mexico under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). The dispute arises from the alleged illegal actions by Mexico leading to the complete loss of Almaden's investment in the Ixtaca precious metals project, which Almaden fully owned, while Almadex Minerals Ltd. held a 2.0% NSR royalty. The arbitration panel has rejected Mexico's request for a separate phase to address jurisdictional objections, a move that Almaden sees as an attempt to delay proceedings. This decision allows the case to proceed without bifurcation, and Almaden anticipates providing an update on the arbitration schedule in the fourth quarter of the year.
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