Dear EMN reader,
Last Tuesday in his address to the nation, President Correa reiterated his support for large-scale mining in Ecuador. He reaffirmed that he welcomes the industry so long as it respects the environment, workers, affected communities, and the state.
And last week, the MMP began talks with Aurelian Resources and Corriente Resources to gather their suggestions regarding the drafting of the new mining law. The MMP also wants to sign contracts with these Canadian firms to determine individual royalties, which are likely to be decided based on the type of metal, grade of mineralization, exploitation techniques, and the size of deposit.
Despite some uncertainty still in the air, the Ecuadorian government is still showing interest in solving community conflicts with mining firms, keeping dialogue with mining companies, and welcoming mining association representatives to the MMP and the Assembly. EMN believes there is light at the end of the tunnel, and that rewards for its significant investment are forthcoming.
Thank you very much for emailing me your concerns regarding the drafting of Ecuador's new mining law. Please keep them coming so they may be included in the EMN Investors' Survey.
Sincerely,
Silvia Santacruz
Writer-Editor
Ecuador Mining News |
