'We believe that President Correa's strong support for responsible mining will carry the day."'
No doubt - but at a price ... there was always some added price to pay, the existing no-royalties system was absurd, couldn't continue ... there had to be much more benefit to locals from their resources, this has always been clear ... however, shutting companies down for six months is a drastic measure, they've got serious investment on the line ... Dynasty is on track to start production in this quarter, that's a lot of capex spent
There may have developed an impasse in private negotiations between one or more companies, and the guvmint, and the latter is demonstrating that it has the ultimate power, and the will to use it
Could be a nefarious plan by shorts, like they're saying on the other thread, but it can often be a mistake to ascribe to malice, or avarice, that which can be explained by stupidity
This stuff adds up too, people already weren't too enthused with the country, today's bit just adds to the record ... piss me off! .. lol, c'est la vie say the old folks, it goes to show you never can tell |
