Ecuador Mining, Oil Minister Derlis Palacios Resigns Dow Jones, June 8th
Codelco, Ecuadorian Govt Sign Exploration Deal BNAmericas, June 5th
Ecuador, Chile To Sign Mining Agreement Dow Jones, June 5th
Nortec Ventures and Copper Mesa extend agreement June 4th
Codelco inks minerals exploration deal with Ecuador Mining Weekly, June 5th
Cornestone Update in Ecuador May 26th
Ecuador State Company to Be Key Player in New Metals Industry Bloomberg, May 18th
International Minerals Reports Net Income of US$ 2.0 million May 19th
IAMGOLD Announces First Quarter Results May 14th
AndeanGold Reports Additional Positive Assay Results at Rio Seco Project, Peru May 12th
Kinross to Raise Funds and Continue Seeking Acquisitions Report on Business, May 7th
AndeanGold Corporate Update May 7th
Kinross Reports Record Revenue and Margins May 5th
Plexmar Resources: Projects Update May 4th
Cornerstone Signs Letter of Intent on Sale of Ecuador’s La Plata Interest April 28th
Trilliant Exploration Expands Operating Capacity at Muluncay April 28th
Dynasty gets official Zaruma gold project approval from Ecuador Mineweb, April 21st
Quri Resources, Inc. Signs Letter of Intent to Acquire Conquista Project in Ecuador April 20th
Salazar Granted Authorization to Resume Operations in Ecuador April 20th
Operations at International Minerals' Rio Blanco Project in Ecuador Temporarily Suspended April 17th
C2C’s JV Producing Gold April 14th
AndeanGold Update on Rio Seco Project, Peru April, 13th
Copper Mesa Announces Corporate Update April 9th
Dynasty Begins Commissioning Zaruma Gold Plant April, 8th
Georox Resources Inc. Announces Lapse of Mining Concessions April 2nd
Nortec Ventures Corp.'s Acquisition in Ecuador April 1st
INVESTORS' GOLDEN PARACHUTE Investors Business Daily, April 3rd
Corriente: Negotiations Continue for Potential Sale March, 31st
Corriente May Be Sold to China's Tongling Metals Reuters, March 26th
Govt Officially Lifts Mining Ban on Kinross, Corriente - Ecuador BNAmericas, March 17
Ecuador Government Official States that All Suspensions of Mining Activities are Lifted March 17
Ecuador Sets its Price for Resource Development Report on Business, March 5th
Cornerstone Updates Mining Law in Ecuador March 3rd
Aurelian Pleased With Mining Ban Lifting BNA, March 3rd
"All Suspensions of Mining Actitivities are to be Lifted": Serrano March, 2nd
Large-Scale Mining Starts in Ecuador El Comercio, March 2nd
Quri Resources Inc. Signs Letter of Intent With G&G Mining Corp. Feb. 25th
Salazar Provides Inferred Resource for El Domo Deposit Feb. 25th
C2C Pours Gold in
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.
Ecuador’s interim legislature overwhelmingly approved the country’s long-awaited mining law last Monday, permitting mining companies to resume operations following a nine-month ban issued by the former Constituent Assembly last April 2008. The bill passed despite fierce opposition from indigenous organization CONAIE. Firms will face a challenge to develop the industry with strict environmental rules.
The CONAIE and anti-development green NGOs demonstrated last Monday in Quito arguing that the law favors multinational companies at locals’ expense. In a bold move to placate the extreme leftists, Correa announced last Thursday that he may default on Global Bonds interest payments, which his administration’s auditing commission recently deemed “illegitimate.” The strategy appears to be working, as CONAIE, its political arm Pachakutick, and other extreme leftist organizations support a default on international debt and applauded the President’s initiative.
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. 
Ecuador’s Constituent Assembly issued a decree halting all medium- to large-scale mining operations in the country for the next six months. During her pro-mining mission to Ecuador, EMN Writer-Editor Silvia Santacruz witnessed how much a single junior exploration company can benefit the economy of impoverished communities such as Pucará, three hours from Cuenca. While international investors lose confidence, and mining companies redefine their strategies and seek friendlier mining frontiers, the Pucarasenses simply wait.