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Amilot Capital Inc V.ACI.H

Alternate Symbol(s):  FMXVF

Amilot Capital Inc. is a Canada-based gold exploration and development company with contractual interests in gold properties in Colombia, South America. Its mineral properties are the Ancal/Marmato Project, located in the Marmato/Caramanta district in the Caldas and Antioquia Departments of Colombia, and the Nortol project, including the Papayo property, located in the northern part of the Tolima Department of Colombia. The Ancal property holds 32 mining concessions, exploitation licenses and applications for mining concessions, covering a total area of over 21,382 hectares (ha). The Nortol property holds 29 mining concessions and applications for mining concessions, covering a total area of over 39,546 ha. The Nortol property is an emerging new gold belt with high grade veins and limited historic exploration. The Papayo property includes existing underground mining works known as the El Papayo mine, comprised of over 400 meters of galleries over an area of around 15,000 square meters.


TSXV:ACI.H - Post by User

Post by lancemanion1974on Oct 16, 2018 3:32pm
190 Views
Post# 28812762

And we have one ruling in place

And we have one ruling in place

https://www.financecolombia.com/colombian-constitutional-court-rules-local-communities-cannot-ban-mining-projects-through-popular-referendum/

Colombian Constitutional Court Rules Local Communities Cannot Ban Mining Projects Through Popular Referendum

Colombia’s Constitutional Court ruled last week that local communities cannot ban mining and other extractive projects through popular referendums.

The controversial practice, known as a “consulta popular,” has occurred increasingly in recent years as multiple municipalities have cast ballots overwhelmingly in favor of vetoing the right of corporations to dig nearby, seemingly over-ruling titles granted by the federal government.

The decision, in a 5-1 vote came specifically from a case involving Mansarovar Energy Colombia Limitada and included language saying that the land is property of the state and is regulated by the national government, which had previously granted the firm the right to mine in the area.

The court decision did also say, however, that local communities should be provided with methods for citizens to participate in decisions over land and that the federal government cannot simply impose extractive projects on towns by decree without their input.

“The latest ruling undoes a 2016 ruling in which the court did grant municipalities the right to regulate mining activity within their borders, which led to a wave of requests for local referendums,” reported Medelln based publication Colombia Reports.

Citizens across nine different areas have so far voted to ban extractive projects through local referendums. According to Bogot-based paper El Espectador, they have been held in the following municipalities: Piedras and Cajamarca (in the department of Tolima), Tauramena (Casanare), Cabrera and Arbelez (Cundinamarca), Cumaral (Meta), Pijao (Santander), and Sucre and Jesus Maria (Sucre).

READ MORE: Exploration Projects in Colombia Face Increasing Uncertainty as Another Town Votes Against Mining

South African mining giant AngloGold Ashanti is another company that had been affected by local votes to ban extractive projects.

After citizens in the town of Cajamarca voted 6,165 to 76 in favor of a mining prohibition, the company announced that it would suspend operations at the massive La Colasa gold mine in the department of Tolima.

AngloGold said it made the “unfortunate decision to stop all project activities…until there’s certainty about mining activity in the country.”


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