Aurelian Resources Was Stolen By Kinross and Management But Will Not Be Forgotten

The company whose shareholders were better than its management

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casey13

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Update from reuters

posted on Jan 25, 2008 05:42AM

http://www.reuters.com/article/marketsNews/idCAN2533790720080125?rpc=44

Ecuador foreign mining takeovers limited: official

Fri Jan 25, 2008 10:35am EST

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.