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Message: Tariff Cuts to Aid Mining Development

Tariff Cuts to Aid Mining Development

posted on Nov 18, 2008 09:00AM
November 18, 2008
Corriente Resources Inc.: Ecuador Government Establishes Tariff Cuts to Aid Mining Development
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 18, 2008) - Corriente Resources Inc. (TSX:CTQ)(NYSE-A:ETQ) -

Ecuador's Council of External Commerce and Investment ("COMEXI") has approved a resolution (Resolution No. 448) to eliminate the import tariffs on a range of equipment, especially those related to mining. This equipment list includes crushers, mills, screens and grinding balls.

COMEXI is composed of representatives from a number of important Ecuador political institutions and Ministries, including Dr. Xavier Abad, who is also the Minister of Industries and Competitiveness. Commented Dr. Abad, "Resolution No. 448 of COMEXI is a clear signal of the decision of the Government to promote the development of mining projects in Ecuador that are responsible to the environment. The resolution expresses the spirit of COMEXI to facilitate the importation of capital items that are indispensable for mining activity."

ABOUT CORRIENTE

Corriente controls a 100% interest in approximately 62,000 hectares located within the Corriente Copper Belt, Ecuador. The Belt currently contains four known copper and copper-gold porphyry deposits: Mirador, Mirador Norte, Panantza and San Carlos; as well as six additional copper exploration targets, representing a potential long-term district development opportunity for large-scale mining.

Kenneth R. Shannon, CEO and President
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