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Canadian Miners Surge After Chinese Bid for Corriente  Financial Post, 12/29/09

Ecometals Announces Drilling to Start at Rio Zarza Gold Project  Dec. 1st

Dynasty Comments on Ecuadorian Mining Regulations  Nov. 30th

Northen Miner Features Ecuador’s Mining Scenario in a Video  Nov. 26 

Salazar Announces Private Placement  Nov. 23

International Minerals to 

Acquire Ventura Gold  Nov. 18th

AndeanGold Reports Phase 1 Drill Results on Rio Seco Project, Peru  Nov. 17

International Minerals Reports Financial Results for 1Q  Nov. 16th

Trilliant Exploration Raises Additional Funds for Gold Mining Operations  Nov. 9th

Ecuador Authorizes Corriente To Restart Works On Mirador  Dow Jones, Nov. 10

Kinross Receives Authorization to Re-Commence Advanced Exploration at FDN  Nov. 10

Dynasty Grants Incentive Stock Options  Nov. 6th

Correa Signs the Regulation for the Mining Law Expreso, Nov. 5 

Ecuador Says Could Start Mineral Exports in 2012  Reuters, Nov. 4

AndeanGold Update on Rio Seco Project, Peru  Sept. 16

Trilliant Exploration to Purchase Control of Bozel  Sept. 16

IAMGOLD eyes further expansion at Rosebel  BNAmericas, Sept. 15

Ecuador Will Allow Mining Exploitation In 2012  Dow Jones, Sept. 14

Trilliant Exploration Reports Revenue Estimates  September 8th

International Minerals to be Included in Swiss Performance Index (SPI) on Swiss Stock Exchange  Aug. 19th

ECUADOR MINING NEWS

New Regulations Lift Mining Ban, Uncertainty Persists

 After 19 months of the infamous mining mandate few survivor firms were allowed to turn their drilling machines back on.  Mining regulations, with a six-month delay, were finally published in the Official Gazette last month.  Although the industry has welcomed the good news, regulations are still ambiguous in two crucial terms: the already high 5% minimum royalty still lacks of a maximum, and the 70% WFT has no base price parameters.  Both numbers are to be determined in individual exploitation contracts.

[Read more]

Q&A with Kinross VP Dominic Channer

Exactly one year ago, in September 2008, Kinross Gold Corporation acquired Aurelian Resources and its "gold dinosaur” Fruta del Norte project.  Since then, the world's eyes are fixed upon the Ecuadorian government’s negotiations with Kinross, because the major’s fate will define the country's mining future.  Kinross VP in Ecuador granted EMN an exclusive interview during which he discussed the Canadian firm's expectations regarding the creation of the National Mining Enterprise, the new mining law and his company's leadership in Ecuador.

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Ecuador’s Mining Future Still Uncertain

Fifteen months after Ecuador’s Constituent Assembly issued the mining mandate which halted the country’s large-scale mining operations, the industry continues waiting to resume its activities. The new mining law was published on January 29, but the mandate continues to be in effect until the law regulations are approved by the new124-member National Assembly.  In the meantime, the industry has increased its red tape by requiring water and environmental permits, drafting a National Development Plan to determine which areas are to be open to mining.  Ecuador’s mining future is still uncertain.
[Read more]

CEI and EMN Launch “UnderMining Prosperity” Video

The Competitive Enterprise Institute (CEI) and Ecuador MIning News (EMN) today launched their inaugural natural resources-themed video titled UnderMining Prosperity.  The video, which features metallic mineral mining in Ecuador as the setting, is available on YouTube and also in Spanish under the title Oportunidad Bloqueada.  Responsible, large-scale natural resource projects in the developing world can alleviate poverty, create jobs, spur development and assist economic growth.  Regrettably, in many underdeveloped countries the freedom to manage natural resources is denied by environmental extremists.

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Q&A with Victor Flores, HSBC Senior Mining Analyst 

Ecuador Mining News had an exclusive interview with New York-based HSBC Senior Mining Analyst Victor Flores during the annual NYSSA Metals and Mining, last month.  In the exchange, Flores states that the negotiations between Kinross and the Ecuadorian government will determine the nation’s mining future.  "If Kinross successfully negotiate a tax favorable to both sides, and can develop FDN, Ecuador’s doors are open to international mining operations.”  Flores also says that the minimum 5 % royalty is already very high, while the 70 % windfall tax only creates uncertainty.   

[Read more]

State-Owned Company to Operate with Revoked Concessions

More than 13 months after the Constituent Assembly’s April 2008 mining mandate, large-scale mining projects in Ecuador have yet to recommence.  President Correa has made recent – and repeated — statements praising Canadian firms’ environmentally friendly mining techniques and welcoming new international investors.  Yet, the investment community faces another threat: the yet-to-be-created state-owned National Mining Enterprise.
[Read more]

Ecuador’s New Mining Law No Panacea

Ecuador’s MMP minister Derlis Palacios visited the Congresillo last Wednesday, November 19th after presenting the mining law the prior Friday.  The new mining law is not a panacea.  It creates new oversight agencies and a 5 percent minimum sales royalty, confirms the 70 percent windfall tax, and encourages firms to opt for service contracts rather than individual exploitation contracts.  The bill also gives the government the authority to cancel concessions or contracts if any human right is violated, or if the natural habitat suffers irreversible damage.  EMN has translated some articles in the Mining Law, and also commented on some of them.  
[Read more]
RELATED NEWS

 

Chevron files motion to annul in Ecuador  Sept. 14

Mirror Image: Latin America Isn't Tilting Left, it's Tilting Right  Newsweek, Aug. 7

Ecuador's President Vows Leftist Push in New Term  Reuters, Aug. 6th

Ecuador Sees Ties Between Correa's Ex-Aides and FARC  Reuters, July 30th

Perenco To Terminate Workers Amid Ecuadorian Oil Dispute  Nasdaq, July 29th

From the Guerrilla's Mouth  The Economist, July 23rd

France Slams Ecuador Move Against Perenco  AP, July 20th

Perenco Ecuador Is in ‘Impossible Position,’ Regional Head Says  Julio 15

Oil firm looks to Ecuador  July 15th

Ecuador Studies ICSID Decision To Define Position On Perenco  Dow Jones May 21st