Just last month, Guillermo Lasso, the president of Ecuador, issued Decree 151 which focuses on a new mining policy, strengthening the government’s support towards mining as a key driver of the economy.
According to this article, “The decree lays out a clear action plan and timeframe that has a primary objective of developing an efficient, environmentally and socially responsible mining industry in Ecuador, to promote national and foreign investment and to implement the best practices for the exploitation of these resources.”
To be honest, I am not surprised by this knowing how supportive the president is when it comes to bringing in more investors to the country. He has his background since he was a former banker and knows how important it is to bring in investors to improve the economy.
Because of this new decree, the activities of mining companies will improve even more. Just recently, Solaris Resources’ (SLSSF) Warintza project produced some results, with the initial hole at East was drilled to a total depth of 1,213m with assays reported for the first 320m of core returning 0.46% of CuEq from the surface, including 54 meters of 0.70% CuEq. This is only the beginning though since the company plans to focus on resource expansion. They have been performing really well lately, despite that recent dip a few weeks back.
SolGold (SOLG.L), another mining company whose mines are located in Ecuador, also released its regional exploration update. Their Hole 1 at Varela is testing underneath outcropping porphyry-style vein stockworks which returned encouraging surface rock-saw channel sample results of 99m @ 0.34% CuEq including 25.1m @ 0.58% CuEq.
But along with the decree is the promise of responsible mining and the inclusivity of the local community. Hopefully, these mining companies will stay true to their own projects of involving the local communities in these mines and making sure that there will be no over-exploitation of mineral resources. After all, the mining industry will definitely affect Ecuador’s economy in a positive way, the same way it helped its neighboring countries in South America.
Submitted September 07, 2021 at 08:21AM by Cool-Statement-6959 https://ift.tt/3jS5cGy
