Lima (Platts)--28May2008
Ecuadorean authorities have said that the country would be particularly careful to stress in any future mining concessions that the priority for the use of water in the country is for agriculture, which takes preference under any circumstance over mining adding that it will prevent water pollution at all costs. Mining minister Galo Chiriboga said Tuesday, according to a ministry statement, that Ecuador -- which is believed to have potential for gold and copper deposits among other metals -- would not let any possibility of pollution compromise its image of being an agricultural exporting country with its flagship bananas product. Earlier this year the Ecuadorean National Constitutional Assembly approved the reversion of 4,474 mining concession back to the state in a move seen as a unilateral attempt by the government to get more favorable terms once it completes the drafting of new concessions that companies. The country has stressed its need to put order in current explorations. It has invited companies to discuss the changes, the government has said. Ecuador has a very incipient mining industry with no meaningful commercial production yet. Among companies exploring in Ecuador is Iam Gold, which is looking for gold in the Azuay province and Canada's Ascendant which, according to its web page, owns two copper projects in the Andean country. --Renzo Pipoli, newsdesk@platts.com
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