Ecuador’s constitutional court has rejected a petition seeking to prohibit mining activities in the southern province of Azuay, home to SolGold’s (SOLG) fully-owned Sharug project. The rejection follows a June ruling relating to the Imbabura and Carchi provinces in Northern Ecuador, where the group’s key Cascabel project is situated.
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As was the case with the earlier rejection, the court found that the proposed petition implied reforms that were incompatible with the Ecuadorian constitution, were too broad in scope, and was thus inadmissible.
The news brought a small lift to SolGold’s share price, which has fallen heavily since news of the proposed referenda emerged in May.
