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You Tube Video: Aurelian Shareholder Speaks Out  Aug. 9th

Aurelian Draws Online Storm  National Post, Aug 7th

EcuaGold Announces Opening of Office in Colombia  Aug. 7th

Quimsacocha Gold Mine Development  Aug. 7th

Junior Miners: Market Manipulation or Just Underperformers?  The Insightful, Aug 4th

Gold Majors Go Shopping: Who's Next?  Seeking Alpha, Aug 1st

Ecuador Mining: Time to Play “Spot the Difference”  Inca Kola News, July 31th

Due Diligence Site Visits Underway in Ecuador  July 31th

Channel Resources Update  July 30th

Is Kinross's bid for Aurelian Brilliant or Nutty?  Smart Investment, July 30th

IAMGOLD Releases Quimsacocha Pre-Feasibility Study  July 29th

Kinross Mails Offer to Aurelian Shareholders  Marketwatch, July 28th

Aurelian May Attract Rival Bids  National Post, July 26th

Atlas Minerals Presents NI 43-101 Resource Estimate For Tres Chorreras  July 28th

EcuaGold Updates Its Activities in Colombia, Peru and Ecuador  July 28th

Kinross to Acquire Aurelian Resources in $1.2B Friendly Deal  CBC News Blog,  July 26th

Kinross Gold Agrees to Buy Aurelian for C$1.2 Billion  Bloomberg, July 24th

Obsession with a Question  Inca Kola News, July 24th

Aurelian Gets a Millionaire Bid for its Gold  El Comercio, July 25th

Kinross Makes Move on Ecuador  Globe Investor, July 24th

Kinross to buy Aurelian  The Star, July 25th

Ecuador Explores Mining Sector Cooperation with India  New Kerala, July 17th

Aurelian Update on Ecuadorian Mining Law and Political Process  July 18th

India, Ecuador Explore Cooperation in Mining Sector  The Economic Times, July 17th

Viceminister of Ecuador Meets Minister of Mines   Government of India, July 17th

Aurelian Reports Enhanced FDN Metallurgical Results and Progress on Conceptual Development Plan  July 17th

Wega Mining Ceases to Be an Insider of Century Mining  July 8th

Oromonte Shareholders Approve Consolidation and Name Change  July 3rd

The Mining Law Draft was Presented to President Correa for Review Presidencia de la Republica, July 1st

Ecuador Mine Law to Have Community Input, no Veto  Reuters, June 30th

Ecuador Needs Mining  Latin Business Chronicle, June 30th

Ascendant Copper Announces Results of Annual & Special General Shareholders Meeting  June, 27th

As for the Ecuador Mining Law...  Inca Kola News, June 27th

Spirit Exploration, Inc. Comments on Recent Developments in Ecuador  June 25th

Ecuador Assembly Head Resigns Over Constitution Rewrite Deadline  Reuters, June 24th

Aurelian's Nemesis to Resign?  Financial Post, June 24h

International Minerals Reports High-Grade Drill Results at Rio Blanco Project, Ecuador June 24th

The Reuters Article Yesterday, and Aurelian Tomorrow  Inca Kola News, June 21th

New Constitution Set to Bolster Ecuador's Correa  Reuters, June 20th

FACTBOX: Key Proposals for Ecuador's New Constitution  Reuters, June 20th  

Time to 'load the boat' with Aurelian Stock: Analyst  Financial Post, June 13th

The Ecuador Mining Picture is Becoming More Positive by the Day  Inca Kola News, June 10th

Oromonte Announces Filing of 1st Quarter Financial Statements and Results  June 13th

Despite Political Quagmire, Ecuador May Produce a Workable Mining Law  Mineweb, June 12th

Ecuador's Mineral Crossroads: Canada's Commitment?  Focal Point, June 3rd

Atlas Provides Update on Recent Announcement in Ecuador  June 12th

Ecuador Min: Mining Concessions Turned Over to the State  Dow Jones, June 9th

Escondoro Postpones Its Initials Public Offering  June 9th

In Depth Interview: Michael Gray, Mining Analyst  BNA, June 2nd

The Draft of Ecuador New Mining Law  Inca Kola News, May 28th

Channel Expands & Advances West Bienville Uranium Project, Completes Geophysics at Tanlouka Gold Project  May 21th

ECUADOR MINING NEWS

New Mining Law to be Approved After Referendum

Ecuador’s new mining law will be approved in the next few weeks, right after the September 28th constitutional referendum, which will also give the green light to create the nation’s Assembly, said MMP minister Galo Chiriboga in a meeting with Canada’s International Trade Minister Michael Fortier yesterday, in Quito.  The MMP’s 110-page draft, available on the ministry’s website, reveals that the Ecuadorian government favors open pit mining, creates a new royalty of 5 percent maximum, and leaves open a door to apply the feared 70 WFT. 

[Read more]

Correa Takes Heat for Mining Stance

Internationally, President Rafael Correa is seen as a leftist with nationalistic sentiments that endanger natural resources investments.  But within his country Correa is in a battle against the extreme left.  Correa’s disagreements with his one-time environmentalist friends and campaign supporters were more obvious during the Constituent Assembly operations, the legislative body that approved the infamous mining mandate.  Correa continues welcoming responsible mining operations in Ecuador, and offered to publish the new mining law at the end of this month.
[Read more]

Kinross Bid to Aurelian Elicits Mixed Reations

Kinross Gold Corporation’s $1.2 billion takeover bid for Aurelian Resources has elicited mixed reactions among investors alike.  While Aurelian shareholders complain that the offer is too lowball, Kinross stocks fell 10 percent, the day the deal was announced.  A mining analyst speculates that the expected 70 percent windfall tax may be the reason for the bid’s unorthodox timimg, and says that the percentage is very severe for the industry. 
[Read more]

Advertorial: Ecuador’s Rio Blanco Shines at 2.2 m 30.8 g/t Gold

International Minerals’ Rio Blanco project reported high-grade drill results, including 2.2 meters at 30.8 grams per ton gold from veins within the western Bolivar Zone, 50 kilometers west of Cuenca, on the western flank of the Western Cordillera, in Ecuador. “The Bolivar West drill results were very positive and show that Rio Blanco has upside in adding high-grade gold mineralization,” said a spokesperson for International Minerals (TSX & SWX: IMZ).  Exploration drilling was halted after the April 18th mining mandate issued by the Constituent Assembly.  The mining mandate, nonetheless, is a temporary one and it will be superceded by the new mining law when it is approved.
[Read more]

Q&A with José Serrano, Ecuador’s Deputy Minister of Mines

Silvia Santacruz of Ecuador Mining News met with Ecuador’s Deputy Minister of Mines, José Serrano, during the LatAm Mining Congress held in Miami last June 17th.  In this EMN exclusive, Serrano revealed that the mining law will be ready at the end of August, and guarantees that the coming legal framework will bring stability to the state and international investors.  He also says that the windfall tax will be applied to the industry, and that the reference price will be established according to a project’s characteristics.
[Read more]

EMN Highlights from 2008 NYSSA Conference

The NYSSA Metals & Mining Conference in New York, in early June, gathered mining executives from around the world who spoke about their projects, their resources or reserves, financial statements, and political stability in host countries.  The trend among most of the featured companies was similar.  Projects with the richest deposits were in risky countries, and low-grade projects were in the friendliest jurisdictions.  International Minerals was the only company with projects in Ecuador that participated in the conference.
[Read more]

Q&A with Victor Flores, Senior Mining Analyst HSBC, New York

In an exclusive interview, EMN talks with Senior Mining Analyst Victor Flores, the inaugural speaker at the New York Stock Securities Analysts (NYSSA) Eighth Mining and Metals Conference.  Flores explains how Ecuador’s April mandate affects investor confidence, and how mining firms may feel they must move on to develop projects in other countries.  He warns that mining projects in Ecuador can be delayed for years and compares the country’s political risk with that of the Congo.   
[Read more]

Silvia’s Ecuador Trip Diary: Entry Two

In this second of two installments, EMN Writer-Editor Silvia Santacruz shares the details of her pro-mining mission to Ecuador.  She offers a play-by-play of EMN’s pro-mining conference in Quito, including speeches made by various mining stakeholders who responded to EMN’s call to further unite in support of mining.  Included are her observations, photos, quotes from speakers, links to news clips, and videos.
[Read more]

Cementing Ecuador’s Poverty by Decree

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.  
[Read more]

EMN Exclusive Article in Industrias Magazine

Industrias Magazine, a monthly publication of the Guayaquil Chamber of Industry, published in its March issue an EMN feature article, “Let’s Take Advantage of the Mining Opportunity.”  Authored by EMN Writer-Editor Silvia Santacruz, the five-page exclusive article stresses the importance of international investor confidence.  Specific article topics include the need for property rights and clear regulation, the threat posed by a windfall tax, and two remarkable LatAm examples: Chile and Peru.  “Ecuador can move from a \'Banana Republic,’ cocoa producer, flower grower, and oil producer to a prosperous mining one,” said Santacruz.  Spanish only  Link to Chamber layout
[Read more]

Silvia’s Ecuador Trip Diary: Entry One

In this first of a two-part series, EMN’s Writer-Editor Silvia Santacruz reveals the details of her pro-mining mission to Ecuador.  Silvia’s first stop was Montecristi, site of the Constituent Assembly.  There, she shares the results of her Investor’s Concerns Survey with key Assembly members.  Later, in Quito, Silvia begins organizing a pro-mining event with the help of stakeholders before taping a 30-minute TV news interview in Guayaquil.  Go to the interview [Spanish only]
[Read more]

Opinion:  Could Correa ‘Flip-Flop’ Create a Back Door for Mining?

Ecuadorian President Correa made what appeared to be flip-flop during his radio show, last Saturday.  He argued that the mining industry does not pay royalties, and the only obligation per-hectare fees ranging from $1 to $16, are sometimes unpaid.  Based on late fees, MMP minister Galo Chiriboga announced the revocation of 587 mining concessions, last Friday.  The Correa administration move may be deliberately sending mixed signals to create a distraction among anti-mining activists.
[Read more]

Windfall Tax Approved, Mining Law on Horizon

While it is unclear whether the 70 percent windfall tax on non-renewable resource extraction will include mining companies, the MMP Minister reiterated President Correa’s support for the industry and announced a dialogue with firms regarding the drafting of a new mining law.  If the windfall tax applies to mining firms, Ecuador will join Mongolia in discouraging international investors from keeping their holdings in the Andean country.  A mining analyst and an investor discuss their insights with EMN regarding this issue.
[Read more]

Details of Proposed Windfall Tax Unfolding

A newswire’s report regarding a 70 percent windfall tax on mining firms operating in Ecuador stunned the industry, precipitating a selloff in shares of junior exploration companies investing there.  As of today, Saturday, details of the tax law were still unfolding but EMN’s research and discussions with an industry group reveal some aspects of the tax law that investors and firms should know about.

[Read more]

El Comercio Prints EMN Viewpoint

Ecuador’s most influential publication, the Quito-based El Comercio daily newspaper, printed an opinion letter authored by EMN Writer-Editor Silvia Santacruz.  The piece outlines the positive effects that large-scale mining will have on Ecuador and argues for the Constituent Assembly’s enactment of industry-friendly regulations.  It also warns against extremist NGO agitation, calling for sensible regulation of these organizations’ behavior.
[Read more]
 
Some Green NGOs Keep Poor Countries Undeveloped While They Are Awash with Billions

Some green NGOs have an inexplicable dark side: they oppose large private companies’ projects in developing countries regardless of their environmentally-friendly standards.  In turn NGOs prevent generous social responsibility programs from helping the poor, while NGO staff work comfortably from the most developed countries and spread misinformation campaigns on the Internet, capturing millions of dollars in donations.

[Read more]
RELATED NEWS

 

Ecuador Says Petrobras Agrees New Oil Pact  Reuters, Aug 7th

Ecuador's Petroproduccion To Operate City's Block 27  Dow Jones, July 30th

President Rafael Correa and the Ecuadorian Left  Upside Down World, July 25th

Major Changes in Ecuador’s Proposed Constitution  Reuters, July 25th

Ecuador Assembly Backs Draft Charter  AP, July 25th

Ecuador’s Correa Keeps Followers Content  Angus Reid, July 22th

Ecuador and Venezuela to Build Oil Refinery  AP, July 16th

Venezuela, Colombia Presidents Expected To Put Behind Disputes  Ino News, July 9th

National Strike Enters Second Day, Several Operations Impacted, Peru  BNA, July 1st

Ecuador Assembly to Accept Resignation of Chief  Reuters, June 24th

Protests in Peru  The Motley Fool, June 13th

Ecuador Oil Min Makes New Offer To Cut Windfall Tax  Dow Jones, June 12th

Spain's Repsol Sues Ecuador Over Windfall Tax  Reuters, June 12th

Oil Prices: Risks and Opportunities  Resource Investor, June 11th

Ecuador Oil Min: No Need For OPEC To Raise Output  Dow Jones, June 8th

Ecuador Government: Petroecuador Seen Producing 62.3M Barrels in '08  Dow Jones, Jun 2nd

Gold to Dust in South American Mining  Modern Money Machine, May 29th

Lima Kicks Off Yellow Metal Symposium with Golden Smile  BNA, May 20th

Venezuela: Oil, Gold and Foreign Affairs  Sheehans Blog, May 20th

Venezuela Gold Mining  Gold World, May 17th

Experts: Venezuelan Government Seeking Control Over Mining  BNA, May 16th

Peru: Nationwide Mining Strike Suspended as Government Holds Talks  BNA, May 12

Ecuador Seeks New Oil Deals in 6 Months, Control Hike  Reuters, April 14

An Explanation for Soaring Commodity Prices  Resource Investor, April 14

2008 Goldman Environmental Prize Raises the Stakes  Environment News Service, April 14

Correa’s Approval Spikes in Ecuador  Angus Reid, April 09

Copper Futures to Hit High in First Half of 2008  Interfax China, April 9

Hunters Comb Globe for a Hot Metal   The Wall Street Journal, April 4

Ecuador Pays Oxy $100 mln Over Tax Dispute  Reuters, April 8

Rio Tinto Not Concerned About U.S. Recession  Resource Investor, April 7

Ecuador Says CIA Controls Part of its Intelligence  Reuters, April 5

Uranium in Latin America  Blog Poblete, March 13

Ecuador Wraps Up Talks on New Oil Contracts  Reuters, March 9

Ecuador Wraps Up Talks on New Oil Contracts  Reuters, March 9

Colombia Pipeline Bombed by FARC After Ecuador Attack  Bloomberg, March 6th

El Salvador Should Not Spurn God’s Gift of Gold  HACER, Feb. 11

ProInversión Peru to Meet with Investors from at least 5 Countries  Business News Americas, Feb. 7

Venezuela, Ecuador to Build Refinery  AP, Feb. 01

Ecuador November Crude Output 517,433 B/D; +1% On Year  Dow Jones, Jan. 29

Three Oil Firms Bid for Oil Contracts Worth $1B in Ecuador  Xinhua, Jan. 23

Ecuador Wants Fast Contract Talks With Private Oil Companies  Bloomberg, Jan. 21