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min2664 Deputy Mining Minister of Ecuador, Federico Auquilla, has recently announced that the country is finalising contracts with Kinross and Ecuacorriente for two large mining projects with a $3bn investment. Read the full story here Canadian gold miner Kinross is planning further development of Ecuador’s largest gold project- Fruta del Norte, while Ecuacorriente, a subsidiary of Canadian multinational Corriente Resources, will be working on the Mirador copper mine. The two planned mining projects would contribute around 5% of Ecuador’s GDP and advance royalty payments would be used to fund social projects nearby the operating mines. Latin American mining continues to pique the interest of Chinese investors keen to secure raw materials, and increased global competition for fewer investable projects may create a push away for traditional investment destinations such as Australia and Canada towards frontier markets such as Brazil, Ecuador and Africa. Major miners, regulators, foreign investors and junior miners with Latin American projects will be discussing regulatory considerations, capital raising opportunities & challenges, resource nationalism and infrastructural improvements in the region at Americas Day, taking place 26 March 2012 at Asia Mining Congress. Visit our website to find out more!
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