Friday, August 5, 2011

Ecuador delays its mining contracts...again

Hey, remember those negotiations between Correa's Ecuador and the big mining companies that want to go play there? Yeah, you know, those deals that were supposed to be agreed upon and signed in 2010....then January 2011....then March....then we were assured that July would see the done deal...then most recently negotiations would wrap up end July and be signed in August?

Well, make that October now. Here's a translation of the top of this report:

Rafael Correa: Mining Activity Will Be Beneficial

Various contracts will be signed next October for mineral exploitation, amongst them that of the Rio Blanco project of International Minerals (IMC), situated in the Molleturo area.

Date of publication: 4 Aug 2011

During his visit to Cuenca, President Rafael Correa said during a visit to the Azuay government that he had hoped to conclude negotiations this month, but the demands of the mining companies had delayed the process.