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Message: MMP Proposes New Framework for Mining Exploitation
MMP Proposes New Framework for Mining Exploitation
By Jose Peralta
Constituent Assembly Press Officer
Montecristi, February 18, 2008 – Assembly members of the Natural Resources and Biodiversity Committee had a hectic afternoon today, Monday 18 February, with the visit of the Minister of Mines and Petroleum, Galo Chiriboga.
The MMP minister testified twice – once on the mining industry and once on the oil industries, separately. Chiriboga assured committee members that the exploitation of natural resources such as mining will help the country stop importing raw materials that can be exploited domestically. He also proposed a new legal framework that enables the industry’s development under strict environmental controls, social benefits, and fair revenue sharing by the state.
Chiriboga revealed that the government has granted 5,197 mining concessions, is currently processing 4,607 more, and has granted 560 exploitation rights. Overall, mining concessions constitute 4,817,510 hectares, including ones still being processed and ones already granted.
On the oil issue, the MMP minister said that the best way to take advantage of the revenue that crude oil generates it is to invest it in hydroelectric projects, for instance, to contribute to the country's development.
The MMP minister testified twice – once on the mining industry and once on the oil industries, separately. Chiriboga assured committee members that the exploitation of natural resources such as mining will help the country stop importing raw materials that can be exploited domestically. He also proposed a new legal framework that enables the industry’s development under strict environmental controls, social benefits, and fair revenue sharing by the state.
Chiriboga revealed that the government has granted 5,197 mining concessions, is currently processing 4,607 more, and has granted 560 exploitation rights. Overall, mining concessions constitute 4,817,510 hectares, including ones still being processed and ones already granted.
On the oil issue, the MMP minister said that the best way to take advantage of the revenue that crude oil generates it is to invest it in hydroelectric projects, for instance, to contribute to the country's development.
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