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New wrinkle in battle over mining in El Salvador?

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• A version of this post ran on the author's blog. The views expressed are the author's own.

The Canadian gold mining company Pacific Rim announced on Oct. 8 that it had signed an agreement to be acquired by OceanaGold Corp., an Australian mining firm. The acquisition price reflects a premium of approximately 50 percent above where Pacific Rim shares had been trading.
 
Pacific Rim currently has a high profile international arbitration pending against the government of El Salvador relating to the government's refusal to issue a permit to allow the mining company to begin operations.  Apparently OceanaGold feels that the arbitration case, or the possibility of a negotiated resolution, is strong enough to warrant the investment in Pacific Rim.

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 According to the press release announcing the deal:

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