Mining Weekly reported that Kinross Gold is not proceeding with development at the Fruta del Norte project in Ecuador, after common ground could not be reached with the government.
As quoted in the Mining Weekly report:
Kinross said that, after more than two years of negotiations on exploitation and investment protection agreements for the project, and despite pending legislative amendments to the mining and tax law regime in the country, it had concluded that it was not in the interests of the company and its shareholders to invest further in developing FDN.
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