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Eco Oro Minerals Corp C.EOM

Alternate Symbol(s):  GYSLF

Eco Oro Minerals Corp. is a Canadian precious metals exploration and development company. The Company was focused on the development of the Angostura Project in northeastern Colombia, which consists of the main Angostura deposit and its five satellite prospects. The International Centre for Settlement of Investment Disputes (ICSID) Arbitration Claim became the core focus of the Company.


CSE:EOM - Post by User

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Post by oldtimer42on Oct 17, 2011 4:31pm
510 Views
Post# 19156891

New Ministers, New Attitude Towards Mining

New Ministers, New Attitude Towards MiningPosted below is a translation of comments by the new Minister of Mines. The Minister along with the new Minister of Environment are much more minor friendly than their predecessors....thankfully. It bodes well going forward.......................................................................BOGOTA - Colombia seeks to ensure that projects related to gold mining and coal others to move "full speed" to encourage the production and income of the government, said Minister of Mines and Energy, Mauricio Cárdenas.Colombia wants the growth of its mining industry is on par with the increasing investment in oil production by favoring projects that meet environmental and social standards without delay, Cardenas said in an interview, while he refused to name specific projects ."Several of these projects are pretty solid and I need to move forward, and do so at full speed", said Cardenas, who is 49 years old, at his offices in Bogota. "Not all these projects get green light, only those who are sound."President Juan Manuel Santos of Colombia attracted investment from companies such as OGX Oil Gas Participacoes SA of Eike Batista and Grupo Carso SAB de Carlos Slim to weaken the guerrillas and open new areas of exploration amid growing global demand for energy and gold.The higher gold prices led to Milton Rodriguez, a member of a Senate committee that oversees natural resources, and other legislators to push tax increases to mining companies.Colombia should work on the implementation of recent changes in the way the government distributes revenues from mining, and not change the tax rates, Cardenas said."I do not think it's the right time," he said.Cardenas, who was director of the Brookings Institute in Washington, DC, took office last month. Previously served in government positions, such as transport minister and director of National Planning, according to the website of the government.Among the companies seeking to develop mining projects in Colombia include AUX Canada Acquisition Inc. Batista this year he bought control of Ventana Gold Corp. to have gold deposits in Colombia. In May, AngloGold Ashanti Ltd., gold producer whose largest shareholder is billionaire John Paulson, said the development of Colosa mine in Colombia is delayed by rising costs and a slow permitting process.Opposition to mining in a watershed area slowed the development of a mining project of $ 1.000 billion to extract gold from Oro Eco Minerals Corp., formerly called Greystar Resources Ltd. The company in March withdrew permit applications for the Angostura mine, with the argument that a smaller project planned to take into account environmental issues.
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