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Mining in Ecuador was slow to develop in c … Mining in Ecuador was slow to develop in comparison to other Latin American countries, in spite of large mineral reserves. As late as 2012, according to the United Nations, Ecuador received less foreign direct investment per person than any other country in Latin America. During the 1980s, mining contributed only 0.7 percent to the Ecuadorian economy and employed around 7,000 people. Minerals were located in regions with little to no access, hindering exploration. Ecuador has reserves of gold, silver, copper, zinc, uranium, lead, sulfur, kaolin and limestone. The latter practically dominated the early industry as it was used in local cement plants. Gold, which was largely forgotten since its early exploitation in the sixteenth century, regained momentum in the 1980s. Ecuador was exporting 2.4 tons per year by 1987, which was mostly discovered in the southern Sierra region, as well as the southeastern province of Zamora-Chinchipe. In 1985 Ecuador's Congress passed a new law to encourage foreign exploration and investment that simplified regulation and offered higher financial incentives and lower taxation for investors, while also establishing the Ecuadorian Institute of Minerals (Instituto Ecuatoriano de Minería—Inemin) under the Ministry of Energy and Mines. Mining has contributed to environmental conflict in Ecuador; and Indigenous-led popular uprisings have made demands for Indigenous consultation on mining projects and increased protection for land and water. During 2012, Indigenous leaders organised a two week march to the capital in protests of mining concessions granted to China. In June 2022, protestors halted production at Mirador copper mine by blockading entry roads as part of a larger national uprising that made multiple demands on the Ecuadorian government, including a moratorium on the expansion of mining and oil projects. the expansion of mining and oil projects.
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Mining in Ecuador was slow to develop in c … Mining in Ecuador was slow to develop in comparison to other Latin American countries, in spite of large mineral reserves. As late as 2012, according to the United Nations, Ecuador received less foreign direct investment per person than any other country in Latin America. During the 1980s, mining contributed only 0.7 percent to the Ecuadorian economy and employed around 7,000 people. Minerals were located in regions with little to no access, hindering exploration. Ecuador has reserves of gold, silver, copper, zinc, uranium, lead, sulfur, kaolin and limestone. The latter practically dominated the early industry as it was used in local cement plants.try as it was used in local cement plants.
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Mining in Ecuador
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