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Message: ecuador is a No No

ecuador is a No No

posted on Jan 25, 2008 09:23AM

QUITO, Jan 25 (Reuters) - Ecuador's leftist government seizure of hundreds of mining concessions on Friday excludes projects held by some junior Canadian mining companies, the deputy mining minister told Reuters.

But the move, which seeks to overhaul the rules for the growing sector, does include revoking the Junin concession held by Canada's Ascendant Copper (ACX.TO: Quote, Profile, Research), the minister added in a telephone interview.

His comments, fleshing out details from an earlier ministry news conference, show the scope of the measures is limited against foreign companies, although it sends a tough signal that the government wants to increase control over Ecuador's natural resources. (Reporting by Alonso Soto; Writing by Saul Hudson)

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