Salazar expects Ecuadorian mining law changes Nov.Salazar expects Ecuadorian mining law changes Nov. 4
Ticker Symbol: C:SRL
Salazar expects Ecuadorian mining law changes Nov. 4
Salazar Resources Ltd (C:SRL)
Shares Issued 28,923,445
Last Close 10/15/2009 $0.94
Friday October 16 2009 - News Release
Mr. Fredy Salazar reports
SALAZAR PROVIDES CORPORATE UPDATE
At a meeting with Salazar Resources Ltd. held Oct. 15, 2009, in Toronto, Ont., members of the government of Ecuador confirmed that the regulations to the mining law will be approved Nov. 4, 2009.
This announcement yesterday was made by the Ecuadorian Vice-Minister of Strategic Sectors Luis Roman and the Vice-Minister of Non-Renewable Natural Resources Carolina Bernal. The meeting was attended by a representative of Salazar. Also in attendance were Juan Salazar, ambassador to Canada, and vice-minister external affairs Lautaro Poso.
The announcement yesterday immediately followed Salazar receiving final approval for its environmental management plan update for the Curipamba project. It was stated at the meeting that once a company has received its environmental permit and water permit (both of which the company has) it will not be required to do anything else prior to receiving permission to resume work. The last requirement is a final community consultation with government officials and the company itself, after which work will be able to resume on the company's properties. After the approval of the mining law on Nov. 4, 2009, the company believes the short consultation process with the local community will immediately take place.
Fredy Salazar, president and chief executive officer, stated, "We are pleased with the clarity received today and feel confident that this final requirement will be seamless knowing that our local community has shown overwhelming support for our project and our company."
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