{"id":1123540,"date":"2019-06-27T16:03:33","date_gmt":"2019-06-27T16:03:33","guid":{"rendered":"https:\/\/www.mining.com\/?p=995152"},"modified":"2019-06-27T16:03:33","modified_gmt":"2019-06-27T16:03:33","slug":"future-of-mining-in-ecuador-to-be-decided-by-govt-solgold","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1123540","title":{"rendered":"Future of mining in Ecuador to be decided by Gov\u2019t \u2014 SolGold"},"content":{"rendered":"<p>Ecuador-focused SolGold (LON, TSX:SOLG) <a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"http:\/\/ir.q4europe.com\/Tools\/newsArticleHTML.aspx?solutionID=3676&amp;customerKey=Solgold&amp;storyID=14360109\" >explained on Thursday<\/a> the reasons why\u00a0the country\u2019s Constitutional Court <a href=\"https:\/\/www.mining.com\/solgold-shares-soar-after-ecuador-court-dismisses-call-for-referendum-on-mining\/3233\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">rejected last week calls for a referendum<\/a> on mining\u00a0in Carchi and Imbabura, provinces where its flagship\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/mining.com\/solgold-scores-finds-greater-resource-potential-ecuador-project\/\" >Cascabel copper-gold project<\/a>\u00a0and other exploration endeavours are located.<\/p>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<p>The Australian miner, which holds<br \/>\n72 mineral concessions in Ecuador through four subsidiaries, also said the<br \/>\nruling had made it clear that the future of mining will be determined by that country\u2019s<br \/>\nfederal government.<\/p>\n<p>Last week\u2019s verdict, said SolGold, determined it was unconstitutional to ask inhabitants of certain provinces about the matters relevant to other areas. It also decided that mining was a matter of national interest, and hence could not be opined upon by the inhabitants of a particular province.<\/p>\n<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p>Last week\u2019s verdict determined that asking inhabitants of certain provinces about the matters relevant to other areas is unconstitutional.<\/p>\n<p><cite>SolGold<\/cite><\/p><\/blockquote>\n<\/figure>\n<p>Under Ecuadorian law, individuals<br \/>\ncan put forward petitions to include questions in a future vote. They must<br \/>\ngather signatures from 10% of the voting population in the province concerned.<\/p>\n<p>The court then gathers arguments<br \/>\nfrom those who put forward the referendum, as well as those that opposed it.<\/p>\n<p>The miner said that representatives<br \/>\nof government bodies, regional communities, pro-mining group and members of the<br \/>\nCascabel community came forward to demonstrate their opposition to the<br \/>\npetition.<\/p>\n<p>\u201cSolGold understands that the court decision has set a precedent of significantly higher standards and legal robustness if future popular consultation (referendum) requests are to pass\u00a0firstly\u00a0the tests of procedure and form in order to be\u00a0secondly\u00a0considered by the court on substance or merit,\u201d <a href=\"http:\/\/ir.q4europe.com\/Tools\/newsArticleHTML.aspx?solutionID=3676&amp;customerKey=Solgold&amp;storyID=14360109\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">it said<\/a>.<\/p>\n<p>The company already had the<br \/>\nEcuadorian government\u2019s backing. Earlier this month, energy minister Carlos<br \/>\nP\u00e9rez stated that Cascabel had the&nbsp;<a href=\"https:\/\/www.mining.com\/solgold-strikes-lucky-at-ecuadors-andean-copper-belt-again\/\"  rel=\"noreferrer noopener\">potential to become the world\u2019s largest underground silver mine<\/a>,<br \/>\nthird-largest gold mine, and sixth-largest copper operation.<\/p>\n<p>\u201cSolGold is committed to building<br \/>\nan integrated explorer, appraiser and miner in the copper industry in Ecuador,<br \/>\nand enjoys the support of its major shareholders, including Newcrest and BHP,\u201d<br \/>\nit said.<\/p>\n<p>While Ecuador has gained ground as a mining investment destination in the past two years, existing and future projects risk delays and potential halts due to growing local opposition to the extraction of the country\u2019s resources, a\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/mining.com\/ecuadors-rising-opposition-mining-may-thwart-exploration-boom\/\" >report by\u00a0Fitch Solutions Macro Research<\/a>\u00a0shows. <\/p>\n<p>As mining projects face headwinds from rising tensions, investors\u2019 courage will be tested, the study concluded, which could thwart Ecuador\u2019s plan to attract $3.7 billion in mining investments in the next two years, up from $270 million in 2018. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Court has determined that asking inhabitants of certain provinces about the matters relevant to other areas is unconstitutional.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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