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10/14/09

News on Ecuador and mining


Thanks due to reader 'T' for the headsup.

So of course there won't be a government approved mining industry in Ecuador. All they want to do is build massive hydroelectric power stations to create capacity specifically for the mining industry... and then refuse to give out the licences for miners. Makes perfect sense.

At what point will you start calling the Ecuador naysayers and knownothings stoooooooopid, now or later? Here comes the report from the specialist website hydroworld and includes this pearl:

Ecuador has world-class precious metals deposits that have yet to be exploited and increased electricity capacity could help lure investors. "The mining industry demands a lot of electricity. We are proposing to increase the electricity supply precisely for mining uses," Castelo said.


DYODD