OTCPK:CTNXF - Post by User
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momentum_seekeron Nov 10, 2008 7:44pm
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Ecuador will become a mining country sooner or lat
Ecuador will become a mining country sooner or lat
"Ecuador will become a mining country sooner or later, and it's best if we do it sooner and do it well"-Javier Cruz
Nearly six months have passed since Ecuador's constituent assembly issued a mandate ordering the suspension of all mining activity for a six-month period in order to draw up a new law.
The mandate also ordered the closure of all mining areas that as of December 2007 had not paid for their conservation licenses, and all concessions that as of April 18, 2008 were still in the paperwork stage.
Although the situation is still complicated for the sector, miners received a positive message from the government when they were issued a draft of the new law that the executive branch is already preparing so it can be put to a vote. (read full article here)