Wednesday, 22nd October 2008 (276 views)

Constitutional changes brought in by Ecuador have been hailed by a gold company.

IAMGOLD has stated that it is "very encouraged" by the results of a recent referendum, in which 63.9 per cent voted in favour of a new constitution.

Joseph Conway, president and chief executive officer, said that the firm is "optimistic that Ecuador will proceed quickly towards a new mining law that will allow responsible mining to the benefit of all stakeholders".

The Quimsacocha gold project, located in the Latin American country, is operated by IAMGOLD, which hopes that work at the site can now "progress rapidly" once the legislation is brought in.

It claims to have been a significant contributor in the region since 1995, as it has provided employment, as well as environmental and community programmes, while remaining committed to responsible mining.

Ecuador has a range of "vibrant" indigenous cultures, all contained in a nation that is smaller than the US state of Nevada, according to travel guide site Lonely Planet.

 

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