Tobar ZVS assisted and accompanied our client Luminex Resources in the implementation of an unprecedented agreement in Ecuador with artisanal miners that will serve as a model to be replicated in other projects facing development challenges from artisanal mining operations.
Luminex Resources Corp. (TSXV:LR, OTCQX:LUMIF) is a Vancouver, Canada-based precious and base metals exploration and development company focused on gold and copper projects in Ecuador. Luminex’s inferred and indicated mineral resources are located at the Condor Gold-Copper project in Zamora-Chinchipe Province, southeast Ecuador. Luminex also holds a large and highly prospective land package in Ecuador, including the Pegasus and Orquideas projects, which are being co-developed with Anglo American and JOGMEC respectively.
Highlights:
- Luminex participated in a mediated negotiation process with 19 mining operators, most of whom hold historical operating permits granted by the Ministry of Energy and Mines within the Condor project.
- The agreement resolves outstanding issues with a critical mass of local miners through a newly constituted local entity, Minera La Pangui S.A.S.
- The 53-hectare area that will be transferred to Minera La Pangui S.A.S. is not of interest to Luminex for integration into the Condor North mine plan.
- Once they become mineral concession owners, the mining operators will assume responsibility for all legal and regulatory obligations arising from their current and historic operations, as well as collaborate with Luminex to facilitate the Condor project's peaceful development.
- This agreement is unprecedented in Ecuador and will serve as a model to be replicated in other projects facing development challenges from artisanal mining operations.
Further information: https://luminexresources.com/news/luminex-reaches-historic-agreement-with-informal-miners-around-condor-north/