[from the article by Jennifer Moore:]
Vancouver’s Corriente Resources is in deep in Ecuador
QUITO, ECUADOR–“Companies should respect society and the environment,” said former Canadian International Trade Minister Michael Fortier during a recent visit to Ecuador. “And if they don’t, we will not approve of their continued operations.”
The Ecuadorian capital was the final stop on Fortier’s Latin American tour in mid-August, which also included Mexico and Panama.
Canadian capital makes up over 90 per cent of the money being invested in Ecuador’s nascent metal mining sector. The industry has been in development for about 15 years but has yet to see any large-scale mineral projects go into production despite dozens planned.
Widespread local opposition during a period of policy change has led companies to lobby hard for political support from the Canadian government.
And since the Ecuadorian National Constituent Assembly passed a decree on April 18 toughening up mining regulations, Canadian government officials have stepped up their support for the over 25 Canadian-financed companies exploring in Ecuador. Click here to read the whole article in The Dominion.