Posted AT 3:25 AM EST on 04/03/09
Ecuador sets its price for resource development
TORONTO — MINING REPORTERTen months after halting all mining development, exploration and construction, Ecuador is allowing foreign miners to get back to work. But the country's new mining law includes provisions that will entitle the state to more than half of a project's profits, a senior government official says.
Jose Serrano Salgado, Ecuador's vice-minister of mines, says Canadian mining companies including Kinross Gold Corp.
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