If there is ever a"graceful" way of weaseling out of this mess, it is as you pointed out hang on the word "contracted".
However, all reports are indicating the mining companies are still meeting with the government over their respective contracts. That does not give me a good feeling that, at least within certain faction of the government, Ecuador has abandoned this nonsense. I just hope there is more concrete news from ARU on what exactly is going on down in that circus of a government, with each different faction seemingly pursuing a different agenda.
Let's just hope for the best.