PERTH (miningweekly.com) – Canadian miners SolGold and Aurania Resources have welcomed reports that Ecuadorian President Guillermo Lasso issued Decree 151, which defines a new mining policy and provides a clearly articulated plan to support responsible mining in Ecuador as a key driver of the economy. 

The decree lays out a clear action plan and timeframe that has a primary objective of developing an efficient, environmentally and socially responsible mining industry in Ecuador, to promote national and foreign investment and to implement the best practices for the exploitation of these resources.

The plan will provide the necessary framework to guarantee security of title, respect pre-existing mining rights and will involve an inter-institutional strategy for the eradication of illegal mining with its associated negative environmental and social impacts, in favour of legal and responsible mining.

“President Lasso's declaration to implement a series of government actions, which in particular support the development of Ecuador's nascent large scale mining industry, is an extremely positive message to investors, to industry, to the country and especially to its rural communities that Ecuador needs to, and can develop its untapped natural resources effectively and responsibly,” SolGold’s VP Andrew Taunton said.

“The benefits to the nation will be in terms of jobs, provincial economic growth and a significant contribution over time to the country's income to improve the well-being of all citizens. SolGold will continue to comply with its obligations as a partner with the government in this process exploring the mineral potential throughout the country.

“This activity has as priorities the willingness to work closely and positively with communities and to continue to openly demonstrate to all that care for the environment is an essential consideration for us wherever we operate. SolGold welcomes this unequivocal declaration from Ecuador's President that mining carried out in a controlled and responsible manner must be an increasingly important pillar of Ecuador's economic development for the foreseeable future."

SolGold’s flagship Alpala copper/gold operation is located in Ecuador.

Mineral explorer Aurania’s chairperson CEO Dr Keith Barron said the decree from the office of the President represented unequivocal support for exploration and mining that is done with due community engagement and care of the environment. 

 Aurania’s flagship asset, the Cutucu project, is also located in Ecuador.