Lundin will pay Ecuador an advance royalty of $65 million. In exchange, the miner won’t be charged a windfall tax until it recovers its development investment.
Environment and Energy Minister, Panos Skourletis, said the company must recall its decision to halt work at most of its sites before any dialogue between the two sides can begin.
In his final State of the Union address, Obama said companies leasing coal and oil rights on federal land should pay more for the effects those fuels have on climate change.