Elite Microcap

[Z-Man15]

Ecuador mining situation (AGCZ):

There are a number of supporting factors that make Ecuador favorable for gold exploration and mining. In recent years Ecuador has done much to foster and encourage foreign investment in its mining industry. The Ecuadorian government introduced sweeping changes to the Mining Law, the highlights of which include:

-Increasing the term of concessions to 30 years (renewable)
Streamlining the granting of title transfer from exploration to exploitation
-Establish only a 5% mineral royalty payable to the government
-Allowing foreigners to hold concessions 100% without Ecuadorian partners
-Introducing guarantees into law which secure the right to mine once a positive feasibility study has been carried out
-Abolished the concession speculation, allowing mining companies to pick properties directly from the government avoiding third party owners