Close

Ecuador Restarts Mining Permits After Seven Years to Boost

Ecuador’s Ministry of Energy and Mines has reopened the country’s mining concessions registry after a seven-year closure. The registry, which records who can legally mine in Ecuador, closed in 2018 due to problems with how mining rights were managed.

Since then, no new legal mining projects have started, and illegal mining has grown. The government says the new registry, called the National Mining Cadastre, will make the system more transparent and organized.

Officials want to attract new investment and create jobs while making sure mining is done responsibly. They will reopen the registry in phases. First, small-scale non-metallic mining—like limestone and clay for cement and ceramics—can apply.

In September, small-scale metallic mining will be allowed. By early 2026, all types of mining can apply for permits. The government has set new rules. Companies must show at least two years of mining experience.

Ecuador’s state mining company will have priority for new projects. The government also plans to introduce new fees based on the size and type of each mining project.

Ecuador Restarts Mining Permits After Seven Years to Boost Investment and Control
Ecuador Restarts Mining Permits After Seven Years to Boost Investment and Control. (Photo Internet reproduction)

Ecuador has large reserves of copper, gold, and silver, but it has not developed its mining sector as much as neighboring countries like Peru and Chile.

In 2022, Ecuador’s mining exports reached over $3 billion, mostly from copper, gold, and silver. The government believes a modern, transparent system will help the country catch up and bring in more responsible investment.

President Daniel Noboa ordered the registry’s reopening as part of a larger plan to fight illegal gold mining and boost the economy. The government says the new system will help protect the environment and involve local communities in decisions.

However, some Indigenous and community groups remain concerned about the impact of mining on their land and water. Officials say the phased reopening will help the government manage applications better and keep the process fair.

They stress that the new registry is designed to support economic growth, protect the environment, and make sure mining benefits local people as well as investors.

Ecuador’s decision to reopen its mining registry is a major step for the country’s mining industry. The move aims to balance attracting investment with protecting communities and the environment, while bringing more order and transparency to a sector that has faced many challenges.

Source link
https://findsuperdeals.shop/

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *