Transnationals' profits from LatAm & Caribbean reached 113 billion in 2011

[naaman fletcher]

2. looks like that's not enough for Ecuador

The government of President Rafael Correa has sent to the National Assembly a bill to reform the country's mining law, that includes some changes requested by private investors.

To pass the law, the government needs about 70 votes of the 137 in the Assembly.

Observers said that Mr. Correa won't have difficulty in passing the reform bill because Alianza Pais, the ruling party, has 100 seats in the Assembly.

"We have a very good mining law, but we have made some mistakes and it was too strong in some aspects and there were not as many investments as we expected," Mr. Correa told reporters on Thursday.

Read more: http://www.foxbusiness.com/news/2013/05/16/ecuador-president-send-urgent-reforms-for-mining-law-to-congress/#ixzz2TY0H1RCH


Apologies for the fox business link, although it is a Dow Jones Newswire story.