Monday April 28, 2008

Mining Law is discussed today
Today begins a dialogue in which mining review the first draft of the new law, drafted by the Ministry of Mines and Petroleum, being the main idea, build consensus around the law, as noted by the minister Galo Chiriboga, expected in developing the standard 180 days since the offer of President Rafael Correa, with industry representatives at a meeting earlier on Thursday.
At the meeting, the Ministry intends to evaluate the sector, although this has already been made following the adoption of the Mandate Mining, which reverted 4,474 concessions that were in the pipeline and exploration phase, which was suspended in addition to the activities of other 590 that remain valid, which in turn forced to mobilize companies who feel affected.
For example, maintains 39 Aurelian concessions and has 450 employees in Ecuador and whose shares are traded in Canada, fell by 57% since the April 21 were listed at U.S. $ 3.75 each, so according to some sources analysing the consequences of that mandate.