Business
Ecuador Executive Decree and Mining Action Plan
Ecuador Executive Decree and Mining Action Plan.
About this update from SolGold PLC
[{"type":"text","content":"\n \n \n \n RNS Number : 9272H\n SolGold PLC\n 09 August 2021\n \n \n \n \n 09 August 2021\n \n \n SolGold plc\n \n \n (\"SolGold\" or the \"Company\")\n \n \n Ecuador Executive Decree No 151 and Mining Action Plan\n \n \n \n \n \n SolGold \n (LSE & TSX code: SOLG) \n reports that on 5 August 2021 the Ecuadorian President Guillermo Lasso announced the Executive Decree Nº 151 (\"Decree\") that contains the Mining Policy for Ecuador. The Decree defines the new public policy that the Government of Ecuador will implement for the mining industry. The new Mining Policy provides a solid plan that includes clear principles of respect for mining rights that are consistent with President Lasso's government's objective to create a favourable environment for increased investment into the mining sector in order for Ecuador to benefit from the nation's significant mineral wealth. \n \n \n The Decree lays out a clear Action Plan (\"Plan\") and timeframe that has a primary objective of developing an efficient, environmentally and socially responsible mining industry in Ecuador, to promote national and foreign investment and to implement the best practices for the exploitation of these resources. The Plan will provide the necessary framework to 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 negative environmental and social impacts, in favour of legal and responsible mining.\n \n \n This marks an important step forward for Ecuador's mining industry and represents a major commitment by the government.\n \n \n Commenting on the Decree, Vice President of SolGold in Ecuador, Andrew Taunton said: \"President Lasso's declaration to implement a series of government actions, which in particular support the development of Ecuador's nascent large scale mining industry, is an extremely positive message to investors, to industry, to the country and especially to its rural communities that Ecuador needs to, and can develop its untapped natural resources effectively and responsibly. The benefits to the nation will be in terms of jobs, provincial economic growth and a significant contribution over time to the country's income to improve the well-being of all citizens. SolGold will continue to comply with its obligations as...