RE: 5 reasons to invest in mining in Ecuador11 Jun 2022 08:36
The political decision to promote responsible mining. Mining has become a strategic sector for State development in administrative policy in recent years. The State identified five large-scale projects that it classified as strategic. While the second-generation projects have made significant progress, 275 new areas were granted for exploration since 2018 and more than 28 new international companies have been domiciled in Ecuador in the last six years. As of May 2021, President Guillermo Lasso established the bases to develop a new mining policy in executive decree 151, seeking to promote responsible and efficient mining that guarantees the legal certainty required for the development of greater investments in this sector. The national government, through the energy and mines ministry, promotes strengthening of institutions, tax, legal and administrative stability and adherence to the Extractive Industries Transparency Initiative (EITI), which means Ecuador is an attractive mining country for investors.