Member Info for Padmaster

Dish lol - Eish

Yes Dish, the future of Ecuador's economy rests on this decision. Surely common sense must prevail.
When out does in our favour, watch this share rocket!
GLA

IT'S HUGE (as if we didn't already know).

"........the plan is that the construction of the mine begins in 2021..."

https://www.lahora.com.ec/loja/noticia/1102250991/cascabel-podria-llevar-al-sector-minero-al-10_-del-pib-en-2025

"Fernando Benalcázar, Vice Minister of Mines, is emphatic in pointing out that, with the concretion of the Cascabel underground mine project, located in Imbabura, the country would reach the big leagues of mining production. "Only with this initiative, in 2025, the mining sector could make the leap to represent 10% of GDP. That is, at levels of more developed countries such as Peru or Chile, "he said "

https://investingnews.com/daily/resource-investing/base-metals-investing/copper-investing/ecuador-talks-up-cascabels-copper-potential/

The Cascabel copper-gold project in Ecuador has a bright future, with the potential to be one of the world’s largest copper, silver and gold mines, according to a flourish of promotion from the Ecuadorian government.

The advanced exploration project, which is located north of Quito and owned by SolGold (TSX:SOLG,LSE:SOLG,OTC Pink:SLGGF), was the focus of a preliminary study by the government. The country is looking to help encourage the development of mineral resources.

Yes Grim, Gem could do no wrong and Solg was doomed lol.
Ericeric was deramping Solg just before the start of the 4000% increase.

Some more names from the past. I think some were infestors - apologies if you weren't -
Kalbarri, Thomas007, db1463, 2Luke, Ronin1, ericeric

Impressive infestor list you have there smickster though there are several I wouldn't include.

There are a number there who are likely multialiarses.

Yes earthling let’s hope common sense prevails and the court decision is in our favour. If it is, then it’s truly game on.
GLA

https://www.ecuadortv.ec/noticias/actualidad/mineria-responsable-andres-icaza-telediario

Andrés Ycaza , Vice President of the Mining Chamber of Ecuador, addressed the issue in an interview on June 13, 2019. "The first analysis is that it is healthy, we believe that the Government has understood what is needed for the progress of the mining sector ", He said.

For example, Ycaza added, the issue of settling the issue of prior consultations, popular consultation, to fight against illegal mining. "The ultimate goal of the mining policy is to clear the way to continue in this development of the sector."

For Ycaza, by 2021, exports from the mining sector must exceed $ 3 billion, and the 20 thousand sources of employment must also be surpassed directly. The 2008 Constitution - mentioned - establishes the right of prior consultation to the populations when there are extractive projects that could affect their coexistence.

Unfortunately in the last administration they never executed that right. It must be understood that this is not a violation of the mining operator but of the State.

That is why one of the topics that the Mining Chamber applauds is that the State is proposing that within the mining policy in the short term a regulation will be issued for the execution of that right.

In Ecuador - explained Ycaza - there is an environmental consultation that is the process of socialization of the environmental impact studies, the popular consultation that seeks to make a decision and the prior consultation that is a collective right of the indigenous or ancestral communities.

One of the problems that Ecuador has is illegal mining and more inconvenience that brings: arms trafficking and money laundering, among others.

https://seekingalpha.com/instablog/295897-roland-rick-perry/5315484-ecuadors-upcoming-gold-rush

"Could Make the California Gold Rush (1848) Look Like Child's Play"

"Bonafide Gold Rush in Ecuador as the World’s Biggest Miners Race to Stake Claims in the Largest Land Grab in Gold Mining History."

https://www.marketscreener.com/SOLGOLD-PLC-4005870/news/SolGold-Ecuador-says-Cascabel-could-become-a-top-world-copper-mine-28748667/?utm_medium=RSS&utm_content=20190612

06/12 SOLGOLD : Ecuador says Cascabel could become a top world copper mine

News Summary
SolGold : Ecuador says Cascabel could become a top world copper mine

06/12/2019 | 09:17pm EDT
QUITO (Reuters) - A preliminary study of the Cascabel mining project in northern Ecuador shows that it could become one of the world's largest copper, silver and gold mines, Ecuador's government said on Wednesday.
The project, operated by Australia's Solgold, is in the advanced exploration phase. It is one of the most ambitious mining projects in Ecuador, which hopes to develop mineral resources to spur its sluggish economy.

The Alpala mineral deposit, which is located in the Cascabel region, "could become the largest underground silver mine, third-largest gold and sixth-largest copper in the world," the Energy Ministry said in a statement.

Cascabel has mineral reserves of 10.9 million tonnes of copper and more than 23 million ounces of gold, according to official data.

The evaluation estimates the project could function for 49 to 66 years using underground mining operations.

Additionally, the project during its first 25 years would have an annual production of around 207,000 thousand tonnes of copper, 438,000 ounces of gold and 1.4 million ounces of silver, the ministry said.

Local communities, however, recently asked the Constitutional Court for permission to hold a popular referendum on whether or not to allow the development to go forward. Lenin Moreno has warned the court about the consequences of authorizing consultations for mining areas that have already been legally licensed to foreign companies.

The court has not yet ruled on the request.

“The acknowledgement of the Constitutional Court on March 7, 2019, provides that the Constitutional Court will consider and vote upon the issue of the constitutionality of both referendums”

They have yet to decide on this constitutionality question relating to referendum 1 INV metals and referendum 2 the Solg case - hence reference to “both referendums”.

The Solg decision should answer this constitutionality question and the ability of the Cc court to override the government

INV Metals legal advice relating to and supportive of the Solg case.

The acknowledgement of the Constitutional Court on March 7, 2019, provides that the Constitutional Court will consider and vote upon the issue of the constitutionality of both referendums. The timeline for a decision is unknown at this point.

INV Metals has been advised by its legal counsel, supported by previous challenges by the Ministry of Energy and Nonrenewable Resources, that the referendum is not constitutional based on Articles 261 and 438 of the Ecuadorian Constitution. Article 261 states, “The Central State shall have exclusive jurisdiction over…energy resources, minerals, hydrocarbons, water resources, biodiversity, and forest resources", while Article 438 states, “The Constitutional Court shall issue a prior and binding ruling of constitutionality in the following cases, in addition to those stipulated by the law: 2. Calls to referendums nationwide or of decentralized autonomous governments.”

https://www.globenewswire.com/news-release/2019/03/14/1752891/0/en/INV-Metals-Provides-Update-on-the-Loma-Larga-Project.html

Qali - I think what is happening is that admin remove the whole thread within which are infestor posts which people have reported - hence anyone who responds legitimately within the thread has their posts autoremoved.

Probably sensible to not respond to infestors or do so starting a new thread.
Regards
P

Interview (positive points within) with Santiago Yépez , president of the Mining Chamber of Ecuador from 2017 to the present 10th June. Translate required.

https://revistalideres.ec/lideres/santiago-yepez-corte-consultas-populares.html

I look forward to reading your blog earthling, keep up the good work.
Regards
P

Good points made there cookie

Yes Dreamboat. Let's hope the judge doesn't play along with these games and makes a decision based on the legal position and common sense!
GLA

How many projects are at risk for eventual judgment against?
There are large projects that are in an advanced stage: Mirador and Fruta del Norte, in Zamora Chinchipe; San Carlos Panantza, in Morona Santiago; Loma Larga and Río Blanco, in Azuay. Then we have another six that are in exploration. All projects have committed investments of USD 3.8 billion. Exports are also at risk for 3,600 million, which would occur from now until 2021. In addition, there are arbitrations that could occur if a project is suspended. There are also 900 ventures; only in Mirador local purchases reach USD 48 million. Another prejudice will be in employment; We have more than 32,000 jobs in this activity.

What effect are having consultations on local investments, current and potential?
The companies are nervous and ask for the clarification of these issues. For this reason, the Government took a very strong position regarding mining: we are a mining country, we are going to respect the contracts. I would like to ask the mayors or prefects where they will pay a claim for one of these companies.

The Government promotes mining, but other entities seem to go in another direction. How to progress through these setbacks?
If we are allowed to work, the expectation is that mining will be 4% of the country's GDP, that is, after oil it will be the second export item. While the local courts and the Comptroller's Office are making certain observations, we will present the arguments for these entities to understand the importance and act in law. It must be remembered that 60% of mining royalties go back to local governments. Local communities are the ones that have to live with these projects, so maybe ask for a ruling. Our obligation as a government is that the project area returns to normal, which reforest.

As for illegal mining, what is the way out for Buenos Aires?
You have to see how to formalize illegal mining, but I can not say if this is an option in Buenos Aires, because the site got out of hand: there is drug trafficking, guerrillas, contamination. We are working on an intervention.

How many pockets of illegal mining exist in the country?
Various. Buenos Aires, Cielito, Alto Nangaritza, Zaruma.

Pretty bullish answers IMHO from the minister.

Suggestion that a decision against us shouldn't be retro-active (retrospective?)!

https://www.elcomercio.com/actualidad/entrevista-carlos-perez-mineria-consulta.html

This week the mining policy was launched, amid the uncertainty of the request for anti-mining consultation. Is it feasible to think of a mining country?
That is the Government's decision. We have very important resources and I sincerely believe that we must make responsible use of these resources for the benefit of all Ecuadorians. But the anti - mining request for consultation is the Constitutional Court questioned that goal. Mining is a plan of national interest. Consultations that are made on a punctual or local scale I think they are not the best.

You should go to a national consultation on the subject?
No. The resource belongs to the 17 million Ecuadorians and they, through their voters, already spoke at the consultation that was held last year, where they asked to develop mining responsibly. But the theme lends itself to political games where certain actors seek to suspend projects. That does a tremendous damage to the country, drives away investment. What we need is for the courts to really analyze the information that is delivered and not be pressured by political actors. Unfortunately, that is happening.

What is the 'plan b' of the Government if the Court gives way to this local consultation?
Consultations as that made in Girón not be retroactive. Unfortunately, the projects are not being analyzed according to all the information.

What do you mean?
Last Wednesday, at the hearing that made the Court to treat the new antimining consultation, devoted little time to receive technical and legal information and priority was given to hear arguments of political actors. A court must make a decision based on technical arguments. It's the only thing we ask for as a Ministry. There were very few questions from the judges regarding legal arguments and that may mean that they know that part well or that they were not interested, which would be very critical.

But is there a 'plan B' in case the court ruling is against?
There is no 'plan b', it is in the hands of the Court. We have just published the mining policy and in the Environmental Code, which has already been published, it is also clearly defined when the consultations proceed. We now hope that, based on these inputs, the judges will make an adequate analysis and determine when there is no room for consultations.

What is behind the last request for consultation?
Illegal mining, which pays no taxes.

How many projects are at risk for eventual judgment against?
There are large projects that are in an advanced stage: Mirador and Fruta del Norte, in Zamora Chinchipe; San Carlos Panantza, in Morona Santiago; Loma Larga and Río Blanco, in Azuay. Then we have another six that are in exploration. All projects have committed investments of USD 3.8 b