it looks like corriente may be close to a sale to a chinese company. our old friend alonso soto reports:

Ecuadorean President Rafael Correa has said he wants major mining projects to progress as his OPEC nation has seen oil revenues plummet.

Correa, a U.S.-educated economist, this month lifted a nearly one-year ban on all mining operations that forced many small Canadian miners to leave the country.

Correa's socialist government has said four mining projects, including Corriente, are considered "investment priorities." The other projects include Kinross, IamGold and International Minerals.

Canaccord Adams in a research note to clients called Corriente a "prime takeover candidate" worth around $528 million, given the political risk in Ecuador.

Correa has sometimes threatened to end deals or seize assets of foreign companies to get benefits for his poor nation. Analysts predict tough negotiations with miners over royalties and more state control of projects. Environmental movements are also a source of tension with miners.

Last year Kinross bought Aurelian Resources for $815 million, drawn to the Fruta del Norte gold deposit in Ecuador.

Corriente is offering the government a cross-asset project that includes building a port, highways, hydroelectric plants and a metal refinery, according to a document obtained by Reuters. It said initial investment could be up to $3 billion.

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