Your Comments
dean stoltz: Thank you for the article. I am a shareholder of Atlas Minerals Inc. and it's good to see how the company is acting responsibly in Ecuador and is trusted by locals. I'm hopeful that the Government will allow Atlas to explore. What is your gut feeling?
Sincerely,
Dean
sam l: You don,t stop "8" responsible mining companies that employe and assit local cities-by telling them to stop drilling for 6 months-So we can deal with the companies that are doing a "Lousy" job-Ecuadors credibilty more specificly Correas-"Just put a major "HALT" to investment untill Correa stops changing his mind-Maybe the Extra poverty he just created will get him to realize what he just did-in the eyes of the international market-Soory-but no more money from myself or our country-untill we feel safe about our investment
Graham: The integrity of Atlas and common sense of those in power in Ecuador will come together again at some point but it is very disheartening to see economic and socio-economic opportunities like this thwarted by foolish afterthoughts of a 'government.'
I appreciate the continued insights from Atlas as they become available.
G.Polan
Calgary
Sam L: Chavez-just-Killed Crystalex Again-Acosta/Correa-has just stopped investment into Ecuador Mining & now have "0" credibility-Bolivia-now leftist & wants to divide their country in two-Argentina-just added an additional 10% tax-if the Gold leaves the country-"South America" investing-just went into the "CONGO,Mongolia,Serbia,Iraq,Iran,Zambia-Group-Good-Luck-but my $ is long gone-12,000 other plays in Canada,US-BYE-BYE
Tim Owen: Appreciate your site. I generally think the I'm taking my marbles and going home attitude is childish and hypocritical. If you're investing in mining stocks short of massive juggernauts like the majors, negotiating political risk is part of the game. The experience in Canada is much the same. Witness BC's ban on uranium exploration and the moratorium in Labrador on mining the same. (What mining? The drill bits have barely started turning.) From what I've read I would interpret the current sturm-und-drang as blowback from western overreach, that is from an IMF imposed fire-sale on Ecuadorian national assets. It is entirely legitimate that Ecuador ensure that the mining benefits them. No less would be expected in El Norte. The risk was created by the IMF. That said I think it would do a great service to those like myself who are invested in Ecuador's mining sector to review what sort of royalty or tax regime would be viewed as reasonable by Ecuadorians or be comparable to other nations on a sort of "best practice" approach. Risk capital needs to be rewarded but the level of compensation cannot be "as much as I can get and damn the consequences." Regarding the issue of NGOs I think it would be very interesting to review those active in the country and interview those in charge. My general complaint is that NGO's tend to be in the business of selling white hats. That is they raise money from westerners with guilt complexes and spend the money giving a very one-sided, retrograde view of mining. The view is based on a long history of exploitive relations between the third world and the first but - hello - US power is waning, the IMF is broke and we're in a commodity boom. That's not incidental to why left-leaning governments are in ascendancy in Latin America. In other words, by labouring under last-season's assumptions regarding the polical landscape they are actually extending paternalistic, imperialistic assumptions. I think that needs to be shown up for what it is: the sort of narcissitic viewpoint that allows us to drive Prius's while ignoring where the raw materials might come from and forbiding the most needy countries to benefit from the trade. To get to the point, what are the arguments these NGOs use to convince people that all mining is bad? Showing that mining companies at the exploration stage are treating workers fairly is not the strongest argument. Far more effective would be evidence that the NGOs are over-stating, cherry-picking data or using out-of-date examples of mining gone wrong to deny Ecuadorians the benefit of responsibly developing their natural resources. Someone is doing harm: either the mining companies by understating the environmental cost of their activities or the NGOs by overstating it. Which is it?
sam l: Ecuador steals Canadians money-and Land they aquired legaly-Good luck with your poverty-in the years to come-and when Chavez.s oil goes back to $25.00/barrel-You will change governments again-I think its 7 times in 10 years already-and come beeging for money again-Ecuadors Socialism-reminds me of Facism-Good luck-you will need it-Correa just created more unemplyment-Way to go-Chavez-Mini-ME
rick nelson: Free the people of Ecuador. Come into the 21st century Acosta and see the possible. Ecuador could finally have a middle class instead of a people who rely on your poor judgement for their future.
Jason: Thanks for the article. This is an example of how lawmakers can seriously harm the most vulnerable when they don't think about long-term consequences before propossing bills, mandates or any other legal figure that is usually nothing more than a political move.
Ecuador's large-scale miners are mostly financed by overseas investors who are experienced miners and know how to do responsible mining. Without them, what's the alternative for miners and locals? More poverty by decree? Nice work!
leodan: hola les felicito por tener a ese hermoso canton como es pucara
