Ecuador and Venezuela will launch Friday morning binational mining company "Mariscal Antonio José de Sucre" reported on 25 Ecuadorian Vice Minister of Mines, Luis Bustamante.
He told reporters that the act to sign a bilateral agreement on mining will be made on the occasion of the official visit to Quito from Venezuela's President Hugo Chavez.
The president of Ecuador, Rafael Correa, with his Venezuelan counterpart discussed the results of the dialogues and productive economic integration in the seventh presidential meeting to be held in the Ecuadorian capital.
Bustamante said the new company will have a binational mining capital of $ 100,000 two nations, 51 percent for the National Mining Company (ENM) of Ecuador and 49 percent for the Venezuelan side.
The binational mining company responsible for scanning processes and sand alluvial gold in the province of Esmeraldas, in western Ecuador, and phosphates in the province of Sucumbios, in the Ecuadorian Amazon.
"With this partnership, we will define areas of interest that are economically suitable for the two nations," the Deputy Minister of Mines.
estimated that Ecuador and Venezuela make up three companies to develop projects related to mining, fishing and agriculture as part of economic integration between the two nations. (Xinhua)
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