Hope to get my shares soon rather then later

cloudy vision ahead ! oiramoric

EXCLUSIVE-Ecuador mulls mining contracts in new law

QUITO, Oct 16 (Reuters) - Ecuador is considering extraction or service contracts for mining companies under a proposed new mining law that should be sent to Congress in a few weeks, Oil and Mines Minister Derlis Palacios told Reuters on Thursday.

Ecuador does not have a specific contract model with mining companies as most still are exploring for precious metals in the Andean country. Left-wing President Rafael Correa has promised stricter state control over the mining sector.

The state would pay companies a fee to extract minerals under a service contract but keep the actual commodities. An extraction contract would allow thegovernment to charge miners a royalty on metals they take out of the ground.