Eco Oro Minerals hopeful that Colombia park would support mining
TORONTO (miningweekly.com) – Colombia-focused project developer Eco Oro on Wednesday said it trusts the delineation of a national park in the north-east of the country would be sensitive to ongoing mining activity and projects in the region.
Colombia on Tuesday said it would create a wilderness park and prohibit mining in a region rich in gold and silver.
The Corporación Autónoma Regional para la Defensa de la Meseta de Bucaramanga (CDMB) has reported that the park will comprise an area of 11 700 ha, the exact coordinates of which would be submitted for approval at the next meeting of the CDMB's board of directors.
"We trust that the boundaries will be defined while being sensitive to the ongoing mining activity and projects in the region, which currently contribute to the social and economic stability of the local communities and which are expected to spearhead economic growth in the region while contributing to the Colombian Government's declared support for mining-driven national economic growth," Eco Oro president and CEO Joao Carrelo said in a statement.
He added that once those boundaries are known, the company would be able to assess the impact of the park on the company's assets and business. Eco Oro has been focused on its fully owned, multimillion-ounce Angostura gold/silver deposit for over 15 years, during which it has invested over $200-million.
“Until those boundaries are disclosed, any view on the impacts on mining in the region are speculative,” Carrelo said.
The company’s TSX-listed stock fell by 20.78% on Wednesday to close at 61 Canadian cents apiece.
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