Ecuador will boost investment in exploration and mining

Ecuador will boost mining activity with a law that cancels the existing restrictions on exploration, although increased state control in the sector with demands for investment and environmental protection, told Reuters the undersecretary of Mines, Jose Serrano.

The draft law, which the authorities hoped to approve by September, will oblige firms to submit plans minimum investment per hectare per year for exploration concessions, limited the area and mining concessions granted by up to 30 years .