Ecuador Signs Copper Development Deal With Codelco

 

VANCOUVER - Corriente Resources Inc. reported that in a June 5, 2009 ceremony attended by President Rafael Correa Chile's Minister of Mining, Mr. Santiago Gonzales and the President and CEO of Codelco, Mr. Jose Pablo Arellano, a cooperation agreement was signed for the exploration and development of potential copper resources currently under the control of the Government of Ecuador. Personnel from Corriente were invited as guests to the signing ceremony, which included top officials from Codelco, President Rafael Correa, his Cabinet and local dignitaries.

After the signing, President Correa delivered a speech to local communities and commented, "Colleagues I am an economist specializing in development... and I know what is necessary for the country to emerge from underdevelopment and to attend to the poorest. We cannot live as beggars sitting on a sack of gold...".

Commented Ken Shannon, Corriente's President and CEO, "We welcome the participation of Codelco, the largest copper producer in the world, in the development of the copper sector in Ecuador. Their presence is an indicator of the success that the Government of Ecuador is having in advancing the theme of responsible mining and an indication that this message is being well received by the mining industry."

The companys address is 520-800 W. Pender St. Vancouver, BC V6C 2V6, (604) 687-0449, fax: (604) 687-0827, email: [email protected].