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Message: Re: Miners cautiously optimistic about Ecuador mining law

I'm not sure where you read in there that it will be another 3 months at least.

The most recent information from Jose Serrano (deputy minister of mines), Dynasty Metals and Minerals and from the Canadian Embassy in Ecuador indicate an August resolution to this. A release of the draft mining law will most probably be well before that.

As frustrating as this process is to all of us, personally I can take some comfort in the foreign trade effort that Ecuador has been making recently. They are behaving for the most part like a credible country. They have been formulating agreements with World Powers like the US, India, China etc. They have been opening trade offices throughout the world. They have stopped the anti-US rhetoric and the pro-Chavez rhetoric.

In essence, they seem to be gaining in political maturity. An example is the issue of debt. The new finance minister comes out with a statement that that some debt might not be repaid and the next day there is a clarification. They seem to be slowly getting it when it comes to world markets and the impact their ill-conceived statements can have.

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Jul 22, 2008 07:25PM
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Jul 23, 2008 09:35AM
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