The company has reported that the Constitutional Court of Ecuador has considered the application to hold a proposed referendum related to mining activities within the Province of Azuay, as well as an application in the canton of Camilo Ponce Enriquez, and has denied the applications stating neither met the required criteria to proceed.
The company's Loma Larga mineral resources and reserves are located within the province of Azuay.
Candace MacGibbon, CEO, stated, “The company will commence its financing and permitting efforts within the laws and regulations of Ecuador with the support from our many stakeholders, the government, and the mining industry. Loma Larga is one of five strategic mining projects identified by the Ministry of Energy and Nonrenewable Resources.”
The Constitutional Court in its press release of 17 September 2019 stated that it “will carry out a formal and material control, case by case, regarding the origin of popular consultations on metal mining, analysing whether these violate rights or imply reforms to the constitution, and if they meet the requirements of loyalty, clarity and transparency required by law to guarantee the rights of voters.”
Many stakeholders submitted strong petitions detailing the legal arguments supporting the unconstitutionality of the applications and in support of the mining sector, including the Ministry of Energy and Nonrenewable Resources, the Attorney General’s Office, EP Petroecuador, the Chamber of Industry, the Chamber of Mines, numerous international mining companies operating within Ecuador, the Regional Mining and Geologist Association, and various supportive communities.
INV Metals, along with other international and Ecuadorian mining and exploration companies, hold legally granted concessions within Ecuador, and we will continue to work together with both the government and the mining industry to promote the significant benefits of responsible and sustainable mining development and to defend our legally granted mineral rights.
Read the article online at: https://www.globalminingreview.com/mining/19092019/inv-metals-provides-update-on-the-loma-larga-project/