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Ecuador metal mining consultation seen as not affecting Loma Larga
Bnamericas
Published: Thursday, November 19, 2020
The popular consultation on metal mining planned in Ecuador’s Azuay province will not affect Canada's INV Metals' US$315mn Loma Larga gold-silver project, vice minister of mines Csar Vsquez said.
"There is no legal way for the consultation to affect mining projects in that jurisdiction," Vsquez told BNamericas.
Last September, the constitutional court approved the request of the mayor of Azuay province’s capital, Cuenca, to hold a popular consultation to prohibit metal mining in areas considered being the water recharge of five rivers.
But the court ruled that if the decision of the consultation is affirmative, “its effects will only be in the future.” Yet the promoters of the consultation insist companies must halt projects that have not reached the exploitation stage.
Vsquez said that once a miner receives mining rights, it may carry out exploration, exploitation, benefitting of minerals and commercialization.
“That right cannot be sectioned; it was awarded in all its breadth,” Vsquez said.
Loma Larga is in the economic evaluation stage.
According to INV, the Loma Larga concession covers around 7,200ha, but the project's operational area, including single water catchment and discharge points, covers 180ha and the intervention area with production facilities is 75ha.
The company plans to begin construction of the underground mine and other production facilities in 2H21.