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NEWS AND BULLETINS

Reopening of the Mining Cadastre in Ecuador

Considering the temporary closure of the mining cadastre in Ecuador during 2017 and with the aim of establishing an annual plannification for the granting of mining concessions, the Mining Ministry is socializing amendments to the Regulations to Grant Mining Concessions.

Overall, the Government seeks to reopen the mining cadastre. The strategy consists of granting 1.25% of the national territory during the next year and the main amendments are:

  1. Market Capitalization: Considering only 20% of the market capitalization as one of the elements to calculate the economic solvency;
  2. Economic Solvency: Demonstrating 20% of economic solvency in relation to the economic proposal;
  3. Economic Proposal: Filing an annual economic proposal during the bidding process which could not double the committment of the previous year. (Eg. 2, 4, 8, 16);
  4. Prior Administrative Licenses: The issuing of the administrative licenses, the triggers the clock for the investment commitment;
  5. Guarantee: Filing an annual guarantee of 10% of the economic proposal;
  6. Exploration Reports: The annual exploration reports must evidence the compliance of the annual economic commitment;
  7. Declaration of Failed Process: To the extent that any of the interested parties file their credentials, the process will continue its course; and,
  8. Mining Cadastre: A user and password will be generated to interested companies to have access to the geoportal to visualize areas before being granted.

Should you require a more detailed analysis of one or all of the the proposals of the Mining Ministry, plese contact us at the Natural Resources, Energy and Infrastructure Unit of Tobar ZVS Spingarn.


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