Explosives From Cuba To Suriname Mean OFAC Fines Totaling US$187,350.00 For Denver-Based Newmont Corporation And Miami-Based Chisu International Corporation.
/The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) today announced a $141,442 settlement with Newmont Corporation (“Newmont”), a multinational mining firm headquartered in Denver, Colorado. Newmont has agreed to settle potential civil liability for four apparent violations of the Cuban Assets Control Regulations (CACR), 31 C.F.R. part 515. Specifically, between approximately June 2016 to November 2017, Newmont Suriname, a wholly owned subsidiary of Newmont that is a person subject to the jurisdiction of the United States under the CACR, purchased Cuban-origin explosives and explosive accessories from a third-party vendor involving four separate transactions. OFAC determined that Newmont voluntarily disclosed the apparent violations, and that the apparent violations constitute a non-egregious case.
Separately, OFAC today announced a $45,908 settlement with Chisu International Corporation (“Chisu”), a company located in Parkland, Florida that is affiliated with a distributor of explosives and accessories for mining operations. Chisu has agreed to settle potential civil liability for four apparent violations of the Cuban Assets Control Regulations (CACR), 31 C.F.R. part 515. Specifically, between June 2016 and November 2017, Chisu and its affiliates in Suriname and Panama on four occasions procured Cuban-origin explosives and related accessories originating from Cuban entity Unión Latinoamericana de Explosivos (ULAEX) on behalf of a U.S. company for the U.S. company’s mining project in Suriname. OFAC determined that Chisu did not voluntarily disclose the apparent violations and that the apparent violations constitute a non-egregious case.
