Canadian miners Adventus Mining (TSX-V: ADZN) and Salazar Resources (TSX-V: SRL) have delayed the start of construction at their $250 million Curipamba-El Domo copper-gold project in Ecuador from October to the second quarter of 2024.
The schedule revision comes as the Andean country’s constitutional court suspended in August an executive decree allowing environmental consultations for mining and other projects. President Guillermo Lasso’s move sought to speed up permitting before the end of his term this year.
Popular referendums are a necessary step for any company hoping to obtain a mining license in Ecuador. Without them, companies will have to wait longer than expected to ave all permits in place before starting construction of a mine.
Two mining projects were able to benefit from Lasso’s decree before the halt. One of them was Adventus and Salazar’s, which had reached a preliminary investment protection agreement for the asset in June.
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