Corriente Resources, a mining company with projects in Ecuador, has welcomed the approval of a resolution to eliminate the import tariffs on a range of equipment, especially those related to mining, in Ecuador (Resolution No. 448). This was approved by the country’s Council of External Commerce and Investment (COMEXI), with the equipment list including crushers, mills, screens and grinding balls.

COMEXI is composed of representatives from a number of important Ecuador political institutions and Ministries, including Dr. Xavier Abad, who is also the Minister of Industries and Competitiveness. Abad commented: “Resolution No. 448 of COMEXI is a clear signal of the decision of the Government to promote the development of mining projects in Ecuador that are responsible to the environment. The resolution expresses the spirit of COMEXI to facilitate the importation of capital items that are indispensable for mining activity.”

Corriente controls a 100% interest in some 62,000 ha located within the Corriente copper belt in Ecuador. The belt currently contains four known copper and copper-gold porphyry deposits: Mirador, Mirador Norte, Panantza and San Carlos; as well as six additional copper exploration targets.