Representatives from numerous mining companies, including Vancouver's Corriente Resources Inc. (TSX:CTQ), have been in discussions with Ecuadorian President Rafael Correa Delgado and top officials to discuss the future of mining in the country.
The president has stated that responsible mining will proceed in Ecuador. Correa is scheduled to meet with mining companies again on April 28 to discuss new mining laws.
The Ecuador Constitutional Assembly passed a mining mandate on April 18 to eliminate illegal mining concessions, but the mandate is unclear and has left foreign investors unsure of its long-term implications.
Corriente has invested over $80 million in projects in Ecuador. The company reports that in March it was given title confirmation from the Ministry of Mines and Petroleum, confirming its concessions were in good standing.
Corriente's share price range this week: between $4.10 and $2.99; 52-week high: $5.95; 52-week low: $2.50.