Corriente Resources

Corriente Resources
Corriente Resources Inc.
Type Private
Industry Mining
Founded 1992
Headquarters

Vancouver, Canada
49°17′07″N 123°06′59″W / 49.285220°N 123.116452°W / 49.285220; -123.116452

Quito, Ecuador
0°10′43″S 78°28′46″W / 0.178517°S 78.479419°W / -0.178517; -78.479419
Key people Kenneth Shannon (CEO)
Daniel Carriere (Senior VP)
Products Copper
Employees 98 (2008)
Website www.corriente.com
Corriente Resources' office in the Mansión Blanca Building in Quito.
Demonstration against Corriente Resources in Gualaquiza, Ecuador.

Corriente Resources is a multinational corporation based in Canada that plans to open an open-pit copper mine in the Ecuadorian rainforest.

Contents

History

Corriente Resources exists since 1992. Around the year 2000, it entered into an agreement with mining giant BHP Billiton, buying mining concessions in the Amazon Rainforest in Ecuador.[1]

Through a community relations campaign, Corriente Resources was able to win over many of the inhabitants of the area that will be affected by the mine, spending money. However, in 2006 a local resistance movement was formed, which then took some mining camps. Another group of locals, supported by the corporation, resisted the take, and there was a fistfight.[2]

Corriente Resources currently has the support of Rafael Correa, president of Ecuador.[3]

Due to its economic power, Corriente Resources not only has influenced Correa, but also local authorities in Zamora Chinchipe and Morona Santiago provinces, where the corporation operates. In early 2009, during a demonstration against the corporation in the town of San Miguel de Conchay in Morona Santiago, the village chief, Hernán Samaniego, issued a death threat against Vicente Zhunio, one of the copper mine's opponents.[4] [5]

Mirador Project

Mirador is Corriente Resources' main project in Ecuador. It is located on coordinates 3°34′12″S 78°26′05″W / 3.570046°S 78.434687°W / -3.570046; -78.434687, near the town of Gualaquiza on the western slope of the Cordillera del Cóndor mountain range.[6]

Corriente Resources plans to extract 30 thousand tonnes of copper ore per day for about 17 years, producing a sum total of 145 million tonnes of waste, which will be dumped near the open pit, in the middle of the rainforest. Corriente Resources believes it will use 10 thousand cubic meters of water per day, an amount equivalent to the water used by 20 thousand people in Ecuador's cities daily. Corriente Resources plans to build a dam near the Quimi River to hold the water produced by the mine.[6][7]

Corriente Resources plans to invest $533 million upfront.[6]

To export the copper, Corriente Resources will build port facilities in Puerto Bolívar on the Pacific coast of Ecuador, 250 miles from the mine.[6]

On July 2009, Corriente Resources announced it had gotten the go ahead from the Environment Ministry and the Water Department of Ecuador to begin digging the open-pit mine.[8]

Substantial Shareholders

The following own 5 percent or more of Corriente Resources' stock:[9]

Name Occupation Business Address Share of Stock
David Lu Financier, Managing Member of Hedgehog Capital LLC 1117 East Putnam Avenue Suite 320
Riverside, CT 06878
10.9
Daniel Carriere Executive, Senior VP of Corriente Resources Inc. 800 West Pender Street Suite 520
Vancouver, BC V6C 2V6
6.1

References


Wikimedia Foundation. 2010.

Игры ⚽ Нужен реферат?

Look at other dictionaries:

  • Corriente Resources — Saltar a navegación, búsqueda Corriente Resources Inc. Eslogan Moving forward with a common goal (avanzando con una meta común) Tipo …   Wikipedia Español

  • Corriente Circumpolar Antártica — Saltar a navegación, búsqueda La Corriente Circumpolar Antártica comunica los océanos Atlántico, Índico y Pacífico. La Corriente Circumpolar Antártica (CCA) es una corriente marina que fluye de oeste a este alrededor de la Antártida. La CCA es la …   Wikipedia Español

  • CIEBF — Corriente Resources, Inc. (Business » NASDAQ Symbols) …   Abbreviations dictionary

  • Category:Mining companies of Canada — Subcategories This category has the following 7 subcategories, out of 7 total. C [×] Coal companies of Canada‎ (5 P) [×] …   Wikipedia

  • CIEB — abbr. CORRIENTE RESOURCES INC NASDAQ …   Dictionary of abbreviations

  • Meandro (geomorfología) — Saltar a navegación, búsqueda Para otros usos de este término, véase Meandro (desambiguación). Un hipotético cauce de un arroyo siguiendo un valle inclinado. La pendiente máxima se da a lo largo del eje valle y está representada por un eje de un… …   Wikipedia Español

  • Meandro — Para otros usos de este término, véase meandro (desambiguación). Un hipotético cauce de un arroyo siguiendo un valle inclinado. La pendiente máxima se da a lo largo del eje valle y está representada por un eje de un cauce hipotético recto. El… …   Wikipedia Español

  • Parque Nacional Phong Nha-Ke Bang — Saltar a navegación, búsqueda Parque Nacional Phong Nha Ke Bang1 …   Wikipedia Español

  • Anarquismo individualista — El anarquismo individualista o anarcoindividualismo es una tradición filosófica del anarquismo con un particular énfasis en la autonomía del individuo,[1] sosteniendo que cada uno es su propio dueño, interactuando con los otros a través de la… …   Wikipedia Español

  • Erosión — Saltar a navegación, búsqueda Se denomina erosión al proceso de sustracción o desgaste de la roca del suelo intacto (roca madre), por acción de procesos geológicos exógenos como las corrientes superficiales de agua o hielo glaciar, el viento o la …   Wikipedia Español

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”