In his Saturday national tv broadcast, Ecuadorian President Rafael Correa said that the negotiations for mining recently agreed with transnational company Ecuacorriente, will give the country the greatest participation in profits ever achieved in Latin America.
“All other countries have far less than what Ecuador has achieved” with 52% of mining share revenues, while Argentina has 35% and Peru 33%, said Correa.
As for the criticism from environmentalists and indigenous groups, the President argued that “the mining industry with better technology is much friendlier to the environment.”
The contract with Ecuacorriente sparked protests from social, political and indigenous groups, they began a march on Thursday and it will last two weeks, until they reach Quito on March 22 to express their contempt. “On March 22th we’ll see hundreds of thousands in Quito, if they are 500 we will be 5,000. I will not allow the childish leftists with feathers, ponchos, destabilize this process of change,” said Correa.