"Toronto-based Iamgold's (IMG.TO: Quote, Profile, Research) general manager, Jorge Barreno, told Reuters the company is reviewing its investment budget in Ecuador to decide whether to cut its 120 employees there. Iamgold owns the Quimsacocha gold deposit, which contains an estimated 3.3 million ounces.

A Corriente Resources (CTQ.TO: Quote, Profile, Research) executive said the company employs 150 people in Ecuador and is waiting for government instructions before deciding on layoffs.

Dynasty Metals & Mining (DMM.TO: Quote, Profile, Research), which employs about 350 in the country, said it had not released anyone and has not halted activity yet, but was reviewing the situation daily and waiting for official orders from the government."

If the Corriente Resources executive is incorrect, then i stand corrected.

safeharbour