Corriente Resources Inc. announces that its Ecuador subsidiary has received an official notice signed by Minister Derlis Palacios Guerrero of the Ministry of Mines and Petroleum in Ecuador which states that the company is authorized to reinitiate its field operations. Additionally, Corriente received its Water Use Concession for general water use at the Mirador camp on February 26, 2009 and will update its Environmental Permits and Water Use Concessions for exploration drilling with the appropriate agencies.
According to Mr. Jose Serrano Delgado, Sub-Secretary of Mines of the MMP, “With the suspension lifting of the companies’ activities, the Government has finished the phase of the process to organize the sector and is initiating a new stage where the development of projects of national priority, of which mining has a central role, will be pushed actively. The new rules handled by an honest government will create a scenario appropriate for the state, the communities, the workers, and investors responsible with society and the environment, and a scenario where the respect of the Constitution and law comes first.”
Corriente CEO and President, Ken Shannon, commented, “We are encouraged and pleased with the Ecuador Government’s continuing progress in working together to establish an environment in which large-scale mining can participate for the benefit of all project stakeholders.”