RE: Jerusalem property neighbour . EGX
web site they state Kinross will commit 1.1 billion to develop Fruta del Norte. Kiross has changed there position they want out of the agreement signed that gave the Ecuador government
52% of the mine
22% income tax
15 % profit sharing for employees, (indigeous people )
5 - 8 % royalty
12% value added tax
Kinross wants too reneg this contact and before signing any new contract they want an investment protection agreement signed
The indegiuous people say they will stop Kinross from mining.
Kinross small print they state they may write the project off and leave the country if a new contract is not neg.
2012 MDA they state some progress in neg, and they are upgrading the mine road.
If they are able to neg profitable mining agreement a can see the share price of all companies in Ecuador rising.
They may have an extension if the contract is not signed by August 1 2013
What happens if correa plays hard ball ?
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