the website for the Ecuadorian Gov't?

apparently it now has the proposed legislation for taxation on it.

Therefore, the 70% would be for mining windfall taxes.

This legislation will go through in the next 2 weeks (by midnight Dec 31) or else they cannot debate it in the assembly.

The huge question is where do they set this windfall level? That should be set with the individual companies in their round of negatiations. Obviously the higher the better.

safeharbour