Ecuador court gives green light for Silvercorp, Salazar’s El Domo project
The ruling removes the last major obstacle for the $250 million project, located 150 km northeast of Guayaquil.
Chile is proceeding with a massive coal mine on an island in Patagonia near the southern tip of South America despite a high-profile online protest campaign and accusations that billionaire President Sebastian Pinera’s shareholding in the developer, Copec, constitutes a serious conflict of interest.
A similar campaign last year forced Pinera to reconsider a thermoelectric plant close to another wildlife sanctuary and a recent poll put his approval rating at only 26%, below even that of dictator General Pinochet, who ruled the country for 17 years from 1973.
FT asks the question why are Chileans protesting so much when the minimum wage has gone up from $60 a month under Pinochet to nearly $300 currently.
UPI reports the country’s chief national oversight body, the Comptroller General, last month cleared Pinera of any conflict of interest in the deal but couldn’t silence critics.
MercoPress reports opponents fear that mining will directly and negatively affect the local environment and that burning the relatively low-quality coal from the Isla Riesco will commit Chile to 25 years of “dirty energy.”
Isla Riesco covers 5,110 square kilometres and holds Chile’s largest known coal deposits thought to contain more than 300 million tonnes. Mining activity dates back to the 19th century.
3 Comments
Vijay Gupta
300 million tonnes coal reserves are not very high in todays scenario. Adequate steps can be taken to save environment in the coalfield area.
The Mafiaman.
This is the way that they do it down there???? Just Shoot the ‘Bastard’, problem solved>>>>>>>>.
Richard Dixon
Most critics of Piñera are only political in nature and not prictical. Chile needs more electric power to support more investment in industry and create more and higher paying jobs. It is not unusual that a business man like Piñera is and owner of stocks in local companies. So what.