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Reuters – Ecuador set to sign $3bn mining contracts

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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