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Ecuador Research Paper

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This baseline will only reflect the cultural awareness of Ecuador. I’m also going to discuss why Ecuador could be beneficial for the country of the United States, simply because of their natural resources. Even though it is considered a third world country, it has a lot of potential to be one of the most prosperous countries in South America due to the products it has to offer. Ecuador, is a democratic republic country in South America, and is surrounded by Colombia on the north, Peru on the east and south, and the Pacific Ocean on the west. This country also includes the well-known Galapagos Islands in the Pacific, about 600 miles west of the mainland. Ecuador straddles the equator, from which it takes its name. Ecuador’s overall landscape …show more content…

In Esmeralda, in the tributaries Palabi, San Juan, Mira, Tululbi, Bogota, Cachabi, and other places, according to the mining geological research foundation. Per to the Chamber of Mines, in Ecuador there are significant gold mineral reserves as much as 71.667 million ounces. “Currently, in the 21st century, the gold mining extraction industry is in a transition phase. Because of the increase of gold prices, the industry is making high profits, and Ecuador is taking advantage of this situation. The relevance of gold mining in the country is demonstrated by its placement as the fourth most important with regards to Ecuadorian GDP. Gold extraction, in Ecuador, has a potential of 19.4 million/ounce in resources according to the Ecuadorian Mining Chamber. There are a number of supporting factors that make Ecuador favorable for gold exploration and mining. In recent years Ecuador has done much to foster and encourage foreign investment in its mining industry. The Ecuadorian government introduced sweeping changes to the Mining Law, the highlights of which include: Increasing the term of concessions to 30 years (renewable)-Streamlining the granting of title transfer from exploration to exploitation -Establish only a 5% mineral royalty payable to the government -Allowing foreigners to hold concessions 100% without Ecuadorian partners• Introducing guarantees into law which secure the …show more content…

Since 2003, the United States Trade Representatives have listed Ecuador in the Watch List country in its annual Special Report and some people have started to invest in the gold production to gain money from it. From the resources of the rainforest, to the Island of Galapagos, from the snow-capped mountains to the active volcanoes, Ecuador has proven time and time again, as we see on the discovery channel, it has a plethora natural resources that can improve everyone’s eco system. As of now we know that Ecuador is second only to Peru for the gold growth rate in South America. Now with that being said, this is a great nation that could possibly be one the greatest resources to the United States. This country is growing very fast in every way possible not only in the agriculture but also in the formation of new resources that our country could possibly gain from. There is still a lot of work to do, but if we continue to help and train Ecuador maintain and secure their borders from illegal drugs crossing the Pacific Ocean, we, the United States, as a nation or country could have a safer America with fewer drugs on the streets and have a country with better resources; thus allowing us to be less dependent on those countries that we end up in war with

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