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Ecuador and Venezuela will create bi-national mining company

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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Ecuador authorized 12 companies to resume mining exploration Advanced Ecuador

Ecuador's government announced today that it has authorized a twelve companies to resume its advanced mining exploration activities were suspended since 2008, the Ministry of Natural Resources Non-renewable.

Deputy Minister of Mines, Luis Bustamante, said that these companies had submitted applications for resumption of work, but said they "have to meet certain parameters on environmental issues (care) and water diffusion in the zones of influence each of the projects.

Bustamante said that "once they have all that, the ministry allowed to resume work on the stage they are suspended."

added that after serving with the provisions of legal regulations, companies may join three others that have received the respective licenses, in reference to the Canadian ECSA-Ecuacorrientes, Aurelian and Kinross Gold Condor.

"The ministry is open to make possible the resumption of mining activities at the national level," said the senior official, which stated that the main objective is to promote mining development throughout the country.

However, he stressed that for operations, "Obviously, companies must meet legal regulations, especially environmental and social responsibility.

New Mining Law in Ecuador, adopted in January 2009, establishes a strong environmental and social standards, but the standard has been criticized by environmentalists and indigenous groups, who fear that the exploitation of minerals affecting their communities and environment.

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give green light to mining despite rejection must be indigenous

Endorsements will be delivered when the companies complete the submission of parameters "environmental" and "dissemination in the areas of influence of each of the projects," said Deputy Luis Bustamante, said in an official gazette.

Quito, Ecuador AFP

give the green light in the "coming weeks" for 12 miners resume their activities in the country, despite the fierce Indian rejection, announced on Wednesday the Ministry of Non-Renewable Natural Resources.

The guarantees will be delivered when the companies complete the submission of parameters "environmental" and " diffusion zones of influence of each of the projects, "said Deputy Luis Bustamante, said in an official gazette.

Bustamante said the company source, who said the ministry and the requests for resumption of work.

"Once you have all this, the Ministry allowed to resume work on the stage who are suspended," said the official.

These companies will join the Canadian Ecuacorrientes ECSA, Aurelian and Kinross Gold Condor, "which so far have received authorization to restart the advanced exploration" the report said.

"The ministry is open to make possible the resumption of mining activities at the national level," assured the deputy minister.

In April 2008, the State reversed 97% of the licenses had been granted to private companies to organize the sector through a law passed in January 2009.

Ecuador, a country dependent on oil, millions would have reserves of gold, silver and copper, mainly, according to authorities.

However, Ecuadorian Indians and environmentalists reject the large-scale mining and the impact it would have on water supplies.

The country's main aboriginal organization, the Confederation of Indigenous Nationalities, called on 26 February to an uprising in opposition to a bill the government for water management, the open pit mining and oil in their communities.
http://www.elcomercio.com/ noticiaEC.asp? Id_noticia = 342282 & id_seccion = 8