Aurelian Resources Was Stolen By Kinross and Management But Will Not Be Forgotten
The company whose shareholders were better than its management
Message: The mining projects of ECSA will generate work for 7300 people
This is babel fish translation but still pretty decent. It is on our neighbour Corriente and explains the vast economic benefits to the locals. A pretty interesting read.....
10h27 | 2008-06-27
The mining company Ecua Corriente S.A. (ECSA) has as motto the development of bells and whistles of responsible form, “which it takes care of the environment and it supports the communitarian social development.” In 10 years of exploration the Ecuadorian company/signature has located copper deposits in a mountainous zone that extends 80 kilometers in the amazonian provinces of Zamora Chinchipe and Morona Santiago. The same that is the greater Jurassic copper discovery of the world in the last 20 years. In this area four deposits of the metal exist. Most important of them is `Mirador' located in Zamora Chinchipe that counts on resources of 8,6 trillions of pounds. Also are the deposits `Norte' Viewpoint also in Zamora and `San Carlos' and `Panantza' in Morona Santiago. Altogether a potential production exists total that reachs the 700 million copper pounds per year. The feasibility study of first stage of this deposit throws the following results: the life utility of this deposit is of 17 years and 133 million pounds per year can be extracted. The initial cost of the project, that distributes it in 24 months promotes to USD 418 million. Whereas the total investment reachs 533,4 million dollars. From this form, the copper exports of the deposit `Mirador' would arrive at USD 161 annual million, with a cost by pound of USD 1.50. In addition beneficiaries with jobs would see themselves 393 people of direct form. 1100 indirect works and about 1454 induced works, that is to say 2947 total works. On the other hand, the deposits `San Carlos' with 8,8 million pounds and `Panantza' with 6,7 trillions, both in Morona, are in their preliminary evaluation. Esteem that has a life of 20 year and a half and copper reserves of 404 million of lbs. to the year. The initial investment for this cuprífero project ascends to $1280 million in 24 months, whereas the total investment reachs 1696 million dollars. The annual exports would reach 495 million every year, also with an estimation of the cost of copper of 1,50 dollars by pound. Thus, beneficiaries with work would see themselves 4328 people, of who 577 are of direct form, 1616 of indirect way and 2135 induced works. The deposit of the project `Mirador' is located in the Tundayme parish, corner the Pangui, in Zamora Chinchipe, the same that includes/understands six mining concessions legally granted by the Ministry of Energy and Mines; and their mining titles are enrolled in the Registry of the Property. The areas where ECSA executes the mining projects are located outside the National System of Protected areas, Protective Forests and the Forest Patrimony of the State. The area of direct influence of the Project Viewpoint includes the parish of Tundayme, which will have the opportunity to be developed. The cuprífera company has undertaken plans of urban ordering and social development that will improve the conditions of life the bordering populations. The influence area extends in addition to the corners the Pangui and Gualaquiza. Churuwia is the unique Shuar community located within the area of direct influence of the project. It is located to 5 km of the site of operations and it will not be hit, although one will benefit by the use that is generated as a result of this project.
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