Kinross Gold Corp. said on Monday it is halting development at its Fruta del Norte gold project in Ecuador after failing to reach an agreement with the government over a windfall tax on revenues.
Chief Executive Paul Rollinson said Ecuador had refused to budge on the 70-per-cent tax, and had indicated that it would not approve a sale or extend the company’s license beyond an Aug. 1 deadline.
Read more...
No comments:
Post a Comment