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COPPER DEVELOPMENT: Codelco teams up with Ecuador (June 10, 2009)

ECUADOR - The world's largest copper producer, Codelco of Chile, has signed a co-operation agreement to explore and...



ECUADOR — The world’s largest copper producer, Codelco of Chile, has signed a co-operation agreement to explore and development potential copper resources currently controlled by the Ecuadorian government.

 

That’s good news for Vancouver-based Corriente Resources which holds a 100% interest in four known copper and copper-gold deposits in the southeast corner of the country. The Mirador and Mirador Norte deposits are ready for development. The Mirador pit alone will supply a 30,000 t/d mill for 19 years. The Panantza-San Carlos project is the next on the horizon. The company also holds numerous exploration projects in Ecuador.

 

Corriente president and CEO Ken Shannon said in a news release, “We welcome the participation of Codelco, the largest copper producer in the world, in the development of the copper sector in Ecuador.  Their presence is an indicator of the success that the government of Ecuador is having in advancing the theme of responsible mining and an indication that this message is being well received by the mining industry.”

 

Negotiations are underway for the sale of the company.

 

The corporate website is at www.Corriente.com. All relevant technical reports are posted there.


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