Ecuador Expected to Delay Fee on Mining, Industry Says
The fees were announced earlier this month as part of efforts to bolster oversight amid a surge in illegal mining and reduce deficits as President Daniel Noboa looks to comply with an International Monetary Fund agreement.
Photographer: Vicente Gaibor/BloombergEcuador has indicated that it will consider delaying the implementation of a new mining fee estimated to generate $229 million annually, according to Rodrigo Darquea, vice president of the country’s mining chamber.
Darquea said he attended a meeting with Deputy Mining Minister Javier Subia on Thursday, in which officials asked the industry to request in writing that the charge be suspended while it’s discussed further. That decision still has to be formalized. The ministry didn’t respond to requests for comment.