Mining Law, 2009, Sector Ministry, the National Mining Company, and the Regulation and Control Body.

South America Current 2009

This mining law regulates the sovereign rights of the Ecuadorian State to manage, regulate and control the strategic mining sector, in accordance with the principles of sustainability, precaution, prevention and efficiency. This law excludes oil and other hydrocarbons. Articles include: Art 47. – Half-yearly reports. – Those entitled to benefit (smelting and refining plants) shall present half-yearly reports of their activities to the Sector Ministry, including the information required by the relevant authority, with a summary of the investments and work performed, the production obtained and the operation’s technical results. Art 73. – Maintenance and access to records.– Those entitled to mining rights must maintain accounting, financial, technical and employment records, statistical production data, information on work progress, consumption of materials, energy, water, and others that appropriately reflect their operations. Art. 78. – Those entitled to mining rights must present an annual environmental audit that allows the control entity to monitor, supervise and verify compliance with environmental management plans.

Scope

Environmental & Social

Industry sectors covered by the instrument

Specific sector/s

Organizations covered by the instrument

Large companies (listed & unlisted) - mining sector

Type of instrument

Legislation

Mandatory or voluntary

Mandatory

The geographical scope

National/federal

Project Partners