Ecuador Plans to Send Congress Broad Mining Reforms

Source:

A top mining official told Reuters in an interview on Friday that the bill will modernize one of the least effective mining laws in Latin America, imposing stricter environmental controls, limiting the duration of exploration concessions and imposing royalties.

Ecuador will send a bill to Congress soon to tighten controls on its nascent mining sector and ease the concerns of activists who have protested the environmental risks of awarding concessions.

A top mining official told Reuters in an interview on Friday that the bill will modernize one of the least effective mining laws in Latin America, imposing stricter environmental controls, limiting the duration of exploration concessions and imposing royalties.

Ecuador has no commercial mines, but as production prospects grow on several gold and copper properties, environmental protests have become more commonplace.

Related Articles

Get Our Streetwise Reports Newsletter Free

A valid email address is required to subscribe