RE: ECUADOR SEIZES HUNDREDS OF MINING CONCESSIONSBad news today:
Ecuador foreign mining takeovers limited: official
QUITO (Reuters) - Ecuador's leftist government seizure of hundreds of mining concessions on Friday excludes projects held by some junior Canadian mining companies, the deputy mining minister told Reuters.
But the move, which seeks to overhaul the rules for the growing sector, does include revoking the Junin concession held by Canada's Ascendant Copper (ACX.TO: Quote, Profile, Research), the minister added in a telephone interview.
His comments, fleshing out details from an earlier ministry news conference, show the scope of the measures is limited against foreign companies, although it sends a tough signal that the government wants to increase control over Ecuador's natural resources.
(Reporting by Alonso Soto; Writing by Saul Hudson)
End very bad news for Brinkkley Mining:
25 January 2008
Brinkley Mining PLC
("Brinkley Mining" or the "Company")
Damsfontein / Bloemfontein Prospecting Rights
Western Uranium (Pty) Limited ("Western Uranium"), an associate company of
Brinkley Mining, has been informed today by South Africa's Department of
Minerals and Energy that its application for uranium prospecting rights in the
Damsfontein/Bloemfontein area of the Western Cape has been refused. A further
update will be provided as appropriate in due course.