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ECUADOR GOLD AND COPPER CORP V.EGX

"Ecuador Gold and Copper Corp is a mineral exploration, mining and development company. The Company acquires and explores gold mineral rights located in Ecuador."


TSXV:EGX - Post by User

Post by ThunderStockon Feb 03, 2014 2:37pm
115 Views
Post# 22166774

New law of Equador is...

New law of Equador is...The new law of Equador is favorable to small and medium mining projects to develop their sites like EGX:

"The law makes it very attractive to invest in small and medium-size projects in Ecuador. Regarding large-scale mining, the tax burden is still a big problem, especially the windfall tax," said the head of the Ecuadorean mining chamber Pablo Acosta.


The law seeks to ease investment terms by delaying the coming into force of the windfall tax until miners recover their investments. It also sets a ceiling on mining royalties of 8 percent for exports of gold, copper and silver.

It states that small-size mines will have to pay 3 percent in royalties, compared with 4 percent for medium-size and a minimum of 5 percent for large-scale mines.


Source: https://www.reuters.com/article/2013/06/13/ecuador-mining-idUSL2N0EP1BJ20130613
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