This May 31, 2019 in a press conference, the authorities from Ecuadorian Business Committee (CEE) Chamber of Commerce Quito (CCQ), Ecuadorian Mining Chamber (CME) and Industry and Production Chamber (CIP), requested a judgment from the Constitutional Court regarding the demands for a public consultation that aims to limit the development of sectors of national interest.
This was done after president Lenin Moreno in his May 24th Address to the Nation issued a clear message where he expressed the support to a mining activity that respects nature and water sources, emphasizing the need to protect the resources that enter the country thanks to responsible mining.
“Foreign investment is necessary for the country´s economic reactivation and legal guarantees are indispensable if we desire to attract new capitals”, reassured Patricio Alarcon, president of the Ecuadorian Business Committee. Adding that in this period where jobs have become precarious, sectors like mining aim to significantly contribute to the country.
Santiago Yepez, president of the Ecuadorian Mining Chamber, highlighted the figures and advantages of the great mining projects by 2021. “Approximately USD 3.800 million in investment, USD 3.200 million in exports, USD 1.300 million in taxes and the generation of more than 32.000 direct jobs and 90.000 indirect jobs.
In the provinces of Imbabura and Carchi, where recently there have been requests for popular consultation the following companies: SolGold, Newcrest, INV Minerals, Cornerstone, CODELCO, BHP Billington are undergoing exploration activities. All these companies have international capitals and work under the highest world class mining standards, according to the best social and environmental practices.
In the case of Project Cascabel of SolGold, it is considered as the biggest copper and gold deposit in Ecuador. The company has been working since 2012 developing this deposit and during this time it has invested USD 150 million in mining exploration projects in Ecuador. Their operation is characterized by being responsible and sustainable, aligned and in compliance with the regulations in force .
As president of the country´s Federation of Industry Chambers and the Chamber of Industry and Production, Pablo Zambrano made a call to take precautions and protect the legal security of the productive sectors which are the sectors that generate formal jobs, pay taxes and comply in full with the Ecuadorian legislation. “To enable popular consultations based on particular interests is an attempt against the rights of all Ecuadorians. In this context, constitutional judges must rule abiding their reason of being as prosecutors of the Constitution of the Republic of Ecuador”.