Overall, the year 2007 ended on the plus side for the mining industry in Ecuador.  President Rafael Correa gave a green light to large-scale mining operations, and the new MMP Minister, Galo Chiriboga, has showed leadership and a pro-industry vision.

The first months of 2008 will be more relevant for the mining sector since the Constituent Assembly will approve a new mining law, which will include new royalties for companies and the renegotiation of their concessions.

Last year, Ecuador proved that it has world-class gold and copper deposits with the recent discoveries of Aurelian Resources and Corriente Resources, respectively.  Other important Canadian companies with promising prospects in the country are IAMGold, Dynasty Metals, Ascendant Copper, Ecuagold, Cornerstone, Channel Resources, and Riverhills Resources, to name a few.

Nevertheless, investors are worried about a windfall tax that may be applied, high royalties, and other issues.  EMN would like to convey to Ecuador's authorities and relevant mining organizations.  For this reason, EMN is conducting an informal survey among readers such as you.

Please tell us your concerns by emailing me using the subject line "Investor Concerns."  This will enable EMN to create a survey that will be sent to many Ecuadorian authorities, including the MMP and the Presidency. 

Sincerely,

Silvia Santacruz
Writer-Editor
silviasantacruz@ecuadorminingnews.com