Beverly Hills 12/12/2009 4:20:15 AM
News / Business

Peru Permits Drilling to Begin on Ecuador Borderlands

Finance World News Update by EQUITIES Magazine

Although Peruvian law prohibits foreign companies from acquiring rights near national borders, the government can, and often does, grant exceptions under a “public necessity” exclusion created to promote front area development. Such is the case with Minera Afrodita’s recently approved project at the Taricori Gold Zone, which falls near Peru’s northern border with Ecuador in the Cordillera del Condor property.

 

Several companies are looking at developing deposits along the same border, despite extreme protesting, which led to a hostage situation in January.

 

About EQUITIES:

 

Since 1951, EQUITIES Magazine has been a leading media company providing business editorial content designed to serve the needs of business leaders, professionals, institutional investors and retail investors. We are focused on business and the business of making money, not on lifestyle subjects. We publish original reporting in print and on our website, as well as select content at www.nasdaq.com. For 28 years we have hosted our own branded investor conferences that connect public company CEO’s with our loyal readers in the investment community.

 

Sign up for a free one-year subscription to EQUITIES Magazine