Business
The Government of Ecuador Signs the Investment Contract for the Development of the El Domo-Curipamba Project with Adventus Mining Corporation and Salazar Resources Limited into Law
The Government of Ecuador Signs the Investment Contract for the Development of the El Domo-Curipa...
About this update from Salazar Resources Limited
[{"type":"text","content":"\n \n \n \n The Government of Ecuador Signs the Investment Contract for the Development of the El Domo-Curipamba Project with Adventus Mining Corporation and Salazar Resources Limited into Law\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n TORONTO\n \n ,\n \n Dec. 28, 2022\n \n /CNW/ -\n \n Adventus Mining Corporation\n \n (\"Adventus Mining\") (TSXV: ADZN) (OTCQX: ADVZF) and\n \n Salazar Resources Limited\n \n (\"Salazar\") (TSXV: SRL) (OTCQB: SRLZF) (collectively the \"Participants\") are pleased to announce that the Government of\n \n Ecuador\n \n has signed the Investment Contract (\"IC\") between the Government of\n \n Ecuador\n \n and Adventus Mining Corporation, Salazar and the Participants' subsidiary Salazar Holdings Ltd. in support of the development of the El Domo copper-gold mining project (\"El Domo\"). The IC was originally reported on\n \n November 10, 2022\n \n as being approved for signing by the Government of\n \n Ecuador\n \n through its investment institution, Investment Promotion and Attraction Strategic Committee (CEPAI). Since then, additional bespoke changes relevant to El Domo development and future operations were approved, including protective arbitration and dispute resolution language approved by the auditor general.\n \n \n \n \n \n \n \n \n \n Along with the financial, tax and legal incentives previously released, the IC provides El Domo with the following benefits until\n \n March 2033\n \n , with the potential for future extension:\n \n \n \n Exemption of import and export duties, and the ability to import contractor equipment from free-trade countries without duties;\n \n \n Guarantees on powerline and road upgrade and construction approvals;\n \n \n Approval of a special dispute resolution article, including international arbitration protection. Jurisdiction in\n \n New York\n \n with English language;\n \n \n Free transfers abroad of cash profits earned, and;\n \n \n Free transfer of cash obtained from the partial or full liquidation of the investors from the sale of shares, ...