Ecuador Gold Mining Laws
1. I have recently came upon a document published by the US Department of state and titled "2010 Investment Climate Statement - Ecuador" and came upon the following paragraph:
The mining sector is open to foreign investment. Foreigners have the same access to large-scale mining concessions as domestic investors, but are prohibited from investing in small-scale mining operations....."
Is this statement correct and if yes does it have any bearing on your gold mine project and in general on any mining project that involves us gringos cooperating with locals in small scale dredging, panning or nugget sniping.
2. I intend to visit Ecuador soon, and would like to take a gold detector with me. Will i have any problems while going through customs.
3. I am having a meeting with the local Ecuadorian consul, in order to apply for a business visa. Bearing in mind paragraph 1 of this letter, should i tell him about my intentions of investing in small scale mining projects?
Stan's response: Arie, Thanks for your post. I'll answer your questions in order.
1. Our project is definitely not considered "small mining". In the one large concession area, we will have numerous excavators and wash plants working. This is being considered as a large alluvial mining operation.
2. You will not have any problems at all entering the country with a metal detector.
3. Are you intending on participating in our gold mining project? If so, you will not have to use the term, "small mining".
Let me know if you have more questions!