3 news items: Southern Copper expected to bid for Ecuador concessions along the Peru border. Ecuacorriente contract was signed last week. Mining tax reform is planned for May when President Correa's new term begins.
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Dallas, TX -- (SBWIRE) -- 04/16/2013 --
Southern Copper Corp(NYSE:SCCO) shares declined 7.53% and closed at $32.18 in the last trading session. The company, on April 3, said it is interested in investing in Ecuador to develop a copper deposit, but it is awaiting planned reforms to the current mining law. Ramon Hip, a company executive in Ecuador, said that Southern Cooper is planning to bid in Ecuador's next auction for mining concessions for exploring areas near the border with Peru.
https://www.sbwire.com/press-releases/traders-recap-southern-copper-corpnysescco-proto-labs-inc-nyseprlb-rti-international-metals-inc-nyserti-238535.htm
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Minera Ecuacorriente investment contract signed for $ 2.014 million for Mirador copper project
By Luis Padilla on Wed, 04/10/2013 - 16:20
The Ecuacorriente investment will be for the preparation and development of the mine site will generate about 370 direct jobs. Photo: Ministry Coordinator of Production, Employment and Competitiveness
Quito, April 10 (Andes). - Ecuador signed on Wednesday the biggest foreign investment contract, made this year, with the company Ecuacorriente, for an amount of 2,014 million for the Mirador copper project in The Pangui (province Zamora Chinchipe).
The investment will be for the preparation and development of the mine site will generate about 370 direct jobs.
"With this major step we are taking it opens the way to a mining development in Ecuador, in a responsible way, a large scale and the benefit of each and all citizens," the minister cmanifestó production coordinator, Santiago Leon.
Sheng Zhongyi, representative of Canadian and Chinese investors Ecuacorriente, said the signing of the investment agreement will strengthen local and national chains; promote human talent and contribute new revenue for the state, thus contributing to the overall development and Good Living.
This is the first company with a mining company from the force of the Organic Code of Production, in 2010. The contract is valid for 15 years and can be renewed.
On December 27, 2012, Ecuacorriente disbursed $ 40 million of a $ 100 million pact as advance royalties.
On Monday, April 8 signed four contracts with investment firms Holcim, Surpapelcorp, Promopesca and Mastercubox by $ 440 million.
Earlier this year (January and February) investment contracts were signed with companies Swissgas del Ecuador SA, SA Templavid and Tenaris S.A. (foreign).
The information and multimedia content, published by the News Agency Andes, are public, free of charge. Can be played with mandatory acknowledgment.
https://www.andes.info.ec/economia/minera-ecuacorriente-firma-contrato-inversion-usd-2014-millones-proyecto-cuprifero-mirador
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Ecuador: $1 Billion Investment From Kinross Awaiting Legislative Reforms
Published April 05, 2013
Dow Jones Newswires
........."This is a key point not only for Kinross but also for all private companies operating or interested in Ecuador," said Ms. Herdoiza. "Our final agreement with the government will pave the way for the entire private sector."
Ecuador President Rafael Correa was reelected in February. He has said that during his new term, which will begin in May, his government will push for the development of large-scale mining projects.