Infinito Gold's final collapse ends Costa Rica's decade-long mining saga

Infinito Gold, once a mining company pursuing a controversial project in Costa Rica, has collapsed entirely. The firm's downfall follows years of legal battles, regulatory penalties, and failed attempts to secure compensation. Its withdrawal from the stock exchange and abandonment of all claims mark the final chapter in a long-running dispute. The company's troubles began with its Crucitas gold project in northern Costa Rica. As early as 2010, local courts ruled the project's concession invalid, halting operations. Despite this, Infinito Gold persisted in legal challenges, eventually taking its case to the International Centre for Settlement of Investment Disputes (ICSID).

In July 2024, the ICSID dismissed the company's claims, awarding no compensation. Initially, Infinito Gold had sought nearly $400 million in damages, but the tribunal rejected the demand entirely. Following this defeat, the firm abandoned further appeals and dropped all legal action against Costa Rica.

Regulatory issues compounded the company's problems. The Alberta Securities Commission upheld a trading ban on Infinito Gold for failing to submit audited financial reports and meet disclosure rules. With no funds, no leadership, and no path back to the markets, the firm officially delisted from the stock exchange.

Meanwhile, Costa Rican authorities intensified crackdowns on illegal mining in Crucitas. In 2025, the Ministry of Public Security reported 622 arrests in the area, seizing around 150 tons of sediment and thousands of mineral-filled bags. They also dismantled clandestine processing sites and confiscated hazardous materials, including cyanide and mercury. By March 2026, the Constitutional Court ordered five state institutions to take urgent action against illegal operations, imposing economic penalties on the State and the water authority (AyA). Infinito Gold's collapse leaves it with no assets, no operational capacity, and no future in the markets. The case serves as a stark example of the risks within the international mining industry. Costa Rica, for its part, continues to enforce strict measures against unauthorised mining in the Crucitas region.