BY: Dr. AGUSTIJN CHAMPIONS
(March / 2011)
MINING CONTRACTS
exploration studies conducted so far show that Ecuador has a strong presence, metallic minerals quantified: 39 million ounces of gold, 190 million ounces of silver, 40,000 pounds of copper, 1 million pounds of molybdenum. 80% of these reserves are located in the provinces of Zamora Chinchipe and Morona Santiago and are related to two metallic mineral belts: a copper-molybdenum-gold and one silver.
whereas the average price of these metals in the international market in January 2011, gold $ 1,289 an ounce, silver 28, $ 4.33 per pound copper and molybdenum 30, the amount of reserves of these metals equivalent dollar would be two hundred twenty-eight billion dollars (228 billion U.S. dollars USA)
mining contracts should be developed based on mineral reserves in the subsoil. The amount of technical reserves determines the daily production annual and one of several minerals, as well as the life of the mines. Also for planning purposes it is necessary to consider that the initial amount of reserves will increase as you make the detailed exploration of the two belts ores: copper-molybdenum-silver and gold.
In this part of the analysis, we should recall the experience in our country with oil. Initial oil reserves of northeastern Ecuador the year that began oil exploration (1,972), were 1200 million barrels (1.2 billion), but recently it held the operation of four billion (4,000,000,000) barrels of oil reserves remaining in the ground are the order of 4,000 million barrels. This fact was not considered in 1972. This is largely due to the improvisation and lack of planning and management in the exploitation of oil, an experience that is necessary to take into account now that he is planning and organizing mining in the southeast.
The amount of the initial reserves of gold, silver, copper and molybdenum from southeastern Ecuador, to plan the installation of a metallurgical factory to produce tons of refined copper a day for 70 years and another to produce 500 000 ounces gold and 1 million ounces of silver annually for 80 years, which as noted will increase as they explore more fully the south east. The approach for installing metal factories including further that when you start the exploitation of such deposits in other provinces: Chaucha and Quimsacocha in Azuay, Zaruma Gold Gold, JunÃn in Imbabura, Curipamba in Bolivar and others, mineral in concentrate is brought to the southeast metallurgical factories.
Likewise, the amount of reserves warranted planning and management of the south east and the country in a rational and sustained. In planning mining should be considered, that whatever is planned is justified metallic mineral reserves in the subsoil. In
exploitation contracts to be signed with the Ecuadorian carriers based on their interests should require:
1 .- The share appropriate, be delivered by companies in the form of ingots of gold, silver , copper and molybdenum in order to facilitate their employment in different sectors of industry and give them added value. With this measure, the Ecuadorian state medium and long term, would recover tens of billions of dollars, creating jobs and industry and their own national sovereignty.
Under the current Mining Act, the mining concession, which initiates the operation of a mineral deposit to be paid to the Government: 25% tax on income, profits 12%, 12% of value added tax, 5% royalties, 70% of revenue windfalls. What is proposed is to add all these taxes and collect the equivalent in bullion. With this measure, companies should build factories in the country with the highest metallurgical technology, creating jobs and above all prevent it from carrying the ore in concentrated form.
by requiring companies that deliver the gold in ingot form, the State may allocate part of this reserve to strengthen Central Bank reserves and bring them to market when gold prices rise in the international market (in the last 18 months the price of gold shot up $ 600 to 1,400 an ounce), some gold can be devoted to develop the gold industry and tourism (50% of world gold production is dedicated to producing jewelry), implying that during the colonial period the English crown received the royal fifths which he was entitled under the law in ingots.
Similar examples can be done with the fate that would give the silver bullion, copper and molybdenum.
As is known, the CIA. Kinross, bought the CIA. Aurelian Resources, the Fruta del Norte deposit in 1200 million (1.2 billion) of dollars less than 2 years ago, when the price of gold as he scored was six hundred (600) per ounce, today gold price is the order of 1400 (1,400) per ounce. The reserves of the Fruta del Norte deposit are fourteen million ounces of gold, Kinross CIA doing nothing to gained $ 800 per ounce, it should be noted that the State never received a cent for this operation, since the sale was made when was in effect the previous Mining Act.
In this part of the analysis is also necessary to remember that the gold district Portovelo-Zaruma was for 50 years 1900-1950, the largest in South America (also it was during the colony). Which initially was the Great Zaruma Gold Mining and then the South American Development Company SADCO, the two foreign companies during that time, mines exploded Portovelo. During this period ore it had been in the form of concentrates and the Ecuadorian State received rightful participation only by the gold content thereof. In countries where these companies had their factories metallurgical concentrates obtained over gold, silver, copper, lead, zinc and other associated elements such as cadmium, indium and germanium.
Demanding payment that corresponds to the state in the form of ingots, is the most important approach that should make the State.
2 .- Based on the wealth of non-metallic minerals and metals in the south east, it should require carriers planning to build one or more modern cities, ecological and sustainable in the provinces of Zamora Chinchipe and Morona Santiago. In this region there are vast plains, located near the belts of mineral deposits of copper, molybdenum and gold-silver located on the western flank of the mountain range of El Condor. Cities in the jungle, as well as administrative and housing units should planned so that they are surrounded by national parks and reserve areas located along the rivers Zamora, Nangaritza Quimi, Manchinatza, Bomboiza and others, as well as natural forests located on the eastern flank of the Cordillera Real and the Cordillera del Condor. Must have the transport infrastructure: an international airport, major roads linking the region to the north of Peru and Puerto Bolivar, health infrastructure: electricity, water, sewer, modern hospitals, health centers, units equipped first-aid ambulances and rescue teams. 3 .- Prepare
specialized staff of technicians and technologists for mining and other needs that the country requires-refinery in the Pacific, Coca Codo Sinclair project. Developing with the settlers and natives of the region based projects existing natural resources: agriculture, livestock, forestry, ichthyological, tourism and other projects that will remain true when mining is completed.
Finally, it is urgent to create a National Reserve, consisting of specialized and experienced staff who will be responsible solely for carrying out checks and monitoring of large foreign companies and to review reports on Reserves / Production presented. Members of this committee must give the approval and signature authorizing the exploitation of mineral deposits, or increased production rates.
(March / 2011)
MINING CONTRACTS
exploration studies conducted so far show that Ecuador has a strong presence, metallic minerals quantified: 39 million ounces of gold, 190 million ounces of silver, 40,000 pounds of copper, 1 million pounds of molybdenum. 80% of these reserves are located in the provinces of Zamora Chinchipe and Morona Santiago and are related to two metallic mineral belts: a copper-molybdenum-gold and one silver.
whereas the average price of these metals in the international market in January 2011, gold $ 1,289 an ounce, silver 28, $ 4.33 per pound copper and molybdenum 30, the amount of reserves of these metals equivalent dollar would be two hundred twenty-eight billion dollars (228 billion U.S. dollars USA)
mining contracts should be developed based on mineral reserves in the subsoil. The amount of technical reserves determines the daily production annual and one of several minerals, as well as the life of the mines. Also for planning purposes it is necessary to consider that the initial amount of reserves will increase as you make the detailed exploration of the two belts ores: copper-molybdenum-silver and gold.
In this part of the analysis, we should recall the experience in our country with oil. Initial oil reserves of northeastern Ecuador the year that began oil exploration (1,972), were 1200 million barrels (1.2 billion), but recently it held the operation of four billion (4,000,000,000) barrels of oil reserves remaining in the ground are the order of 4,000 million barrels. This fact was not considered in 1972. This is largely due to the improvisation and lack of planning and management in the exploitation of oil, an experience that is necessary to take into account now that he is planning and organizing mining in the southeast.
The amount of the initial reserves of gold, silver, copper and molybdenum from southeastern Ecuador, to plan the installation of a metallurgical factory to produce tons of refined copper a day for 70 years and another to produce 500 000 ounces gold and 1 million ounces of silver annually for 80 years, which as noted will increase as they explore more fully the south east. The approach for installing metal factories including further that when you start the exploitation of such deposits in other provinces: Chaucha and Quimsacocha in Azuay, Zaruma Gold Gold, JunÃn in Imbabura, Curipamba in Bolivar and others, mineral in concentrate is brought to the southeast metallurgical factories.
Likewise, the amount of reserves warranted planning and management of the south east and the country in a rational and sustained. In planning mining should be considered, that whatever is planned is justified metallic mineral reserves in the subsoil. In
exploitation contracts to be signed with the Ecuadorian carriers based on their interests should require:
1 .- The share appropriate, be delivered by companies in the form of ingots of gold, silver , copper and molybdenum in order to facilitate their employment in different sectors of industry and give them added value. With this measure, the Ecuadorian state medium and long term, would recover tens of billions of dollars, creating jobs and industry and their own national sovereignty.
Under the current Mining Act, the mining concession, which initiates the operation of a mineral deposit to be paid to the Government: 25% tax on income, profits 12%, 12% of value added tax, 5% royalties, 70% of revenue windfalls. What is proposed is to add all these taxes and collect the equivalent in bullion. With this measure, companies should build factories in the country with the highest metallurgical technology, creating jobs and above all prevent it from carrying the ore in concentrated form.
by requiring companies that deliver the gold in ingot form, the State may allocate part of this reserve to strengthen Central Bank reserves and bring them to market when gold prices rise in the international market (in the last 18 months the price of gold shot up $ 600 to 1,400 an ounce), some gold can be devoted to develop the gold industry and tourism (50% of world gold production is dedicated to producing jewelry), implying that during the colonial period the English crown received the royal fifths which he was entitled under the law in ingots.
Similar examples can be done with the fate that would give the silver bullion, copper and molybdenum.
As is known, the CIA. Kinross, bought the CIA. Aurelian Resources, the Fruta del Norte deposit in 1200 million (1.2 billion) of dollars less than 2 years ago, when the price of gold as he scored was six hundred (600) per ounce, today gold price is the order of 1400 (1,400) per ounce. The reserves of the Fruta del Norte deposit are fourteen million ounces of gold, Kinross CIA doing nothing to gained $ 800 per ounce, it should be noted that the State never received a cent for this operation, since the sale was made when was in effect the previous Mining Act.
In this part of the analysis is also necessary to remember that the gold district Portovelo-Zaruma was for 50 years 1900-1950, the largest in South America (also it was during the colony). Which initially was the Great Zaruma Gold Mining and then the South American Development Company SADCO, the two foreign companies during that time, mines exploded Portovelo. During this period ore it had been in the form of concentrates and the Ecuadorian State received rightful participation only by the gold content thereof. In countries where these companies had their factories metallurgical concentrates obtained over gold, silver, copper, lead, zinc and other associated elements such as cadmium, indium and germanium.
Demanding payment that corresponds to the state in the form of ingots, is the most important approach that should make the State.
2 .- Based on the wealth of non-metallic minerals and metals in the south east, it should require carriers planning to build one or more modern cities, ecological and sustainable in the provinces of Zamora Chinchipe and Morona Santiago. In this region there are vast plains, located near the belts of mineral deposits of copper, molybdenum and gold-silver located on the western flank of the mountain range of El Condor. Cities in the jungle, as well as administrative and housing units should planned so that they are surrounded by national parks and reserve areas located along the rivers Zamora, Nangaritza Quimi, Manchinatza, Bomboiza and others, as well as natural forests located on the eastern flank of the Cordillera Real and the Cordillera del Condor. Must have the transport infrastructure: an international airport, major roads linking the region to the north of Peru and Puerto Bolivar, health infrastructure: electricity, water, sewer, modern hospitals, health centers, units equipped first-aid ambulances and rescue teams. 3 .- Prepare
specialized staff of technicians and technologists for mining and other needs that the country requires-refinery in the Pacific, Coca Codo Sinclair project. Developing with the settlers and natives of the region based projects existing natural resources: agriculture, livestock, forestry, ichthyological, tourism and other projects that will remain true when mining is completed.
Finally, it is urgent to create a National Reserve, consisting of specialized and experienced staff who will be responsible solely for carrying out checks and monitoring of large foreign companies and to review reports on Reserves / Production presented. Members of this committee must give the approval and signature authorizing the exploitation of mineral deposits, or increased production rates.
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