Executive ECSA says:
Mandate Mining controversy creates a negative level of investors

One of the negative consequences that had the mandate Mining was causing a loss of over U.S. $ 1000 million between Canadian companies shareholders of ECSA, in the three days prior to the adoption of the Mandate, says senior vice president of operations ECSA (Ecuacorrientes ), Ian Harris.
Of course, he explains, that the loss was not physical cash, but in market value since the shares fell ECSA its value, leading to mistrust of investing in Ecuador on issues miners hits.
Therefore, the Mandate in question can not be taken lightly because it has generated a very high negative controversy about the decision of investors want to put their money in Ecuador and its mining projects, continues.
An example of this is that the two projects has ECSA, Panantza-San Carlos and Mirador, have an initial investment cost of U.S. $ 1700 million, which is what gets money from investors in Canada; achieve the resources currently become more expensive, says Harris.
Put another way, is by widening the interest of foreign investors to put their resources in the country, only injured, he argues.

Empresa Nacional, did just that Petroecuador?
Apparently the National Mining Company (MNA) will be equal Petroecuador, as the Government has stated that it conducted through the activities of exploration, exploitation, marketing and other tasks that are typical of a large-scale mining, responds executive director of the Chamber of Mines of Ecuador (CME), Javier Cruz.
It clarifies that companies affiliated with the Chamber of Mines are not opposed to the creation of the MNA, indeed, applaud its creation, however, their powers should be directed to the regulation of mining activities.
Ian Harris, in this regard, he mentioned that the creation of the MNA should aim at regulating mining activities, so that in future this is the company to start generating its own mining projects.
Regarding the nationalization of mining, there are discrepancies between ECSA and the Chamber of Mines, since the former asserts that while there is a slight possibility that the state appropriates all mining concessions, reality and speeches by van Furthermore, says Harris.
Javier Cruz, for its part maintains that it wants the Government estatizar mining: the powers you want to give the MNA is a proof of this, he adds.

No legal action
ECSA disagrees with the idea of taking legal action because doing so would send the wrong message to the company towards the country; would mean that only looking for financial compensation, when what the company wants is to create development with mining Says Harris.
Therefore, the shareholders of the Company (ECSA) have raised within 30 days to await a response from the Government, while justified by the statements of Minister of Mines and Petroleum, which says that everything is being done possible to submit the first draft of the Mining Act before the end of May.