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Aurania Reports on Presidential Decree That Defines the Government's Action Plan to Stimulate Responsible Mining in Ecuador
Toronto, Ontario--(Newsfile Corp. - August 6, 2021) - Aurania Resources Ltd. (TSXV: ARU) (OTC...
About this update from Aurania Resources Ltd.
[{"type":"text","content":"Aurania Reports on Presidential Decree That Defines the Government's Action Plan to Stimulate Responsible Mining in EcuadorToronto, Ontario--(Newsfile Corp. - August 6, 2021) - Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (FSE: 20Q) (\"Aurania\" or the \"Company\") reports that yesterday afternoon, Ecuadorian President Guillermo Lasso issued Decree 151 (\"Decree\") that defines a new mining policy and provides a clearly articulated plan to support responsible mining in Ecuador as a key driver of the economy. The Decree defines a tight timeline for the achievement of specific action items. A translation of the action items and timeline is provided on our website http://www.aurania.com/investors/ecuadors-action-plan-for-the-mining-sector/.Aurania's Chairman & CEO, Dr. Keith Barron commented, \"This decree from the office of President Lasso represents unequivocal support for exploration and mining that is done with due community engagement and care of the environment. The Fruta del Norte gold deposit, brought into production by Lundin Gold in 2019, represents Ecuador's first example of a mining operation that fits the framework envisioned by the government in order for the mineral industry to take its rightful place as a driver of Ecuador's economy.\"Our legal counsel in Ecuador, Dr. César Zumarraga, made the following comment, \"Today is one of the most important days for the Ecuadorian mining industry in recent years. The document [Decree 151] defines the new public policy which includes clear principles of respect for mining rights and the promotion of best environmental and social practices that coincide with the desire of President Lasso's government to create a favourable environment for increased investment and exports in the mining industry.\"ObjectiveThe Decree lays out the action plan (\"Plan\") to develop an efficient and environmentally and socially responsible mining industry, to promote national and foreign investment, and to implement best practices for the exploitation of these resources. The Plan will guarantee security of title, respect pre-existing mining rights and will involve an inter-institutional strategy for the eradication of illegal mining with its associated social and environmental impacts, in favour of legal and responsible mining. LegalThe Decree makes it clear that mining-related matter...