The Mineral Industry Of Other Areas Of South America - Ecuador

As a result of the new mining law implemented in August 1985 and the programs conducted by the Institute Ecustoriano de Mineria (INEMIN), which was created by this legislation, there was considerably greater activity in the nonfuels mineral sector during 1986. Over the next 2 years, INEMIN will be developing a national mining plan that will guide Ecuadorean mineral development for the balance of this century. As stage one of INEMIN's mineral study, historical records were reviewed and 300 abandoned mines and 1,200 unexplored mineral deposits were available for further investigation. In 1986, INEMIN established 5 branch offices and negotiated 250 new mining contracts with foreign companies valued at $16 million. Despite all this activity, INEMIN officials estimate that 100,000 square kilometers remain available for claim staking. Technical assistance contracts were signed with Belgium, the Federal Republic of Germany, Italy, Spain, and the United Kingdom, to assist in a variety of assignments ranging from helping prepare the national minion plan to the development of industrial mineral deposits.