Nine months after the meeting of the Ecuadorian President with mining companies to define the changes to the Mining Act and make a viable sector development, the National Assembly will try on Tuesday the reforms proposed by the Executive as economic urgent, despite the legislative minorities and some groups have objected to the changes.
Some of the proposals were reflected in the set in the amendment to the Mining Law, the Law Amending for Tax Equity in Ecuador and the Organic Law on Internal Taxation, the Committee on Economic and Tax Regime Assembly that left last Thursday night the second debate report and sent it to the Secretariat to be treated in full tomorrow or Tuesday.
The president has justified the reforms by the country’s development, it’s not that he wants to benefit the mining sector but it’s would allow the possibility to have an economic growth and welfare for the population.
The Legislature has until this week to approve it. If they do not have a statement, the reform will take effect by operation of law.
With 32 documents, seven general provisions, four transitional and on final that aims, among other justifications: “promoting mining, since this is generating jobs especially in poverty-stricken areas, violated in environmental and social to ensure its development on the basis of incentives and appropriate control mechanisms,” were the reasons given by the President.
For PAIS assemblymen, with this reform rules leave a clear path for mining investment arrives into the country. But for activists, environmental law experts and the opposition, answers to the interest of expanding large-scale mining industry and increase tax funds, at the mercy of simplifying the regulations.
Projects and Fruit North Mirador, in Zamora Chinchipe; San Carlos Panantza in Morona Santiago, and Quimsacocha and Rio Blanco, both in Azuay, have foreseen to exploit copper and gold.