Reuters – Ecuador set to sign $3bn mining contracts
Date: Nov 23, 2011
Ecuador preparing to move forward with agreements on natural resource development:
Ecuador is close to signing contracts with Kinross and Ecuacorriente for two large mining projects with investment of $3 billion, a senior mining official said on Tuesday.
Leftist Ecuadorean President Rafael Correa has had a tumultuous relationship with foreign investors since first taking office in 2007, revising oil contracts to better favor the government and defaulting on the nation’s debt.
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