EcuaCorriente, the local unit of Canada's Corriente Resources Inc., is close to receiving a license for its Mirador project in Ecuador, after obtaining approval for its environmental-impact studies, a high-level government official said Wednesday.

Juan Carlos Soria, deputy secretary for environmental quality, said in an interview that the company has paid $200,000 of the $600,000 required to get the license.

EcuaCorriente is controlled by China Railway Construction Corp. (601186.SH, 1186.HK) and Tongling Nonferrous Metals Group Co. (000630.SZ).

The Mirador project, in southern Ecuador, has estimated reserves of 10 billion pounds of copper.

Ecuador currently has a minimal mining output, and large projects are generally centered on nonmetallic products such as cement.

President Rafael Correa's administration plans to sign exploitation and investment contracts with at least three foreign mining companies this year.

The Correa administration is negotiating with, among others, EcuaCorriente; the local unit of International Minerals Corp. (IMZLF, IMZ.T) for its Rio Blanco project; and Kinross Gold Corp. (KGC, K.T) for its Fruta del Norte project.

Guayaquil's Expreso newspaper said Wednesday that International Minerals Corp. has partnered with China's CAMC Engineering for the financing and construction of Rio Blanco project.

The Rio Blanco project in the southwest has estimated reserves of 605,000 ounces of gold and 4.3 million ounces of silver.

Officials from CAMC Engineering as well as IMC weren't available for comment.

-By Mercedes Alvaro, Dow Jones Newswires; 5939-9728-653; mercedes.alvaro@dowjones.com

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