mining reform process was set in motion.
2. It cancelled existing concessions. Every once in a while the
industry has to be reminded that the State controls natural resources.
3. A key goal of the new policy was to make companies accountable for
the social and environmental impacts of their exploration activities.
4.It provides for a veto of current mining projects.
5. It requires stricter environmental regulations and royalties that
return a fair share of profits to the state.
6.It creates a state run mining company.
Ecuadorian president Rafael Correa founded the Alianza PAIS—Patria
Altiva y Soberana ("Proud and Sovereign Fatherland Alliance"). The new
party espouses political sovereignty and regional integration, and
economic relief for Ecuador's poor. Correa, an observant Roman
Catholic, describes himself as a humanist, a Christian of the left, and
a proponent of socialism of the 21st century.
In addition to his platform on economic and social policy, Correa's
ability to communicate with Ecuador's indigenous population in their
own language also differentiated him from the other presidential
candidates. He learned Quichua in his youth during a year he spent
volunteering in a remote highland town.
