This came out this morning on Ecuador.
May 24, 2007 21 31 GMT
Ecuador will create a Constituent Assembly to reform the constitutional law regarding foreign investment in the country so the state will be able to assume 70 percent to 80 percent of the earnings from the oil and mining sectors, Government Minister Gustavo Larrea said May 24. Private companies holding majority stakes in oil or mining operations will then be left with 20 percent to 30 percent of the earnings. Despite this announcement, Larrea said Ecuador does not have any plans to nationalize the two sectors.
But ARU put a PR out about Ecuador and here is what it said.
May 25, 2007
Aurelian Comments on Ecuadorian News Article
TORONTO, ONTARIO--(CCNMatthews - May 25, 2007) - Aurelian Resources Inc. (TSX:ARU) today announced that it has become aware of a single news story that has been published on the internet commenting on potential changes to Ecuador's foreign investment law. The company does not believe that there is any basis to this report. Aurelian is doing everything within its power to get clarification from the government since this single news story is totally contrary to the government's earlier statements that confirmed its desire to build a mining industry in Ecuador and create a stable environment for foreign investment.
