Ecuador mineral exports could fall by some 20% this year, says official
Mining exports were worth $3.3 billion for Ecuador in 2023.
Brazilian energy group Cosan has approved extending talks on forming a mining venture between its subsidiary Altantico Participacoes and Bergnol Holding Limited, according to a securities filing.
The two firms signed a memorandum of understanding in May 2021 on forming a venture to mine iron ore. They have been in talks since then to finalize the agreement.
The securities filing, published late on Thursday, said Cosan’s board had approved changes to the initial agreement, including extending for two years a deadline to conclude talks.
The change suggests that a final deal now needed to be in place by May 2023, although the filing did not outline clearly what the new deadline was or say what the original deadline was.
The changes also covered provisions regarding the size of each party’s equity in the joint venture and the general conditions under which the new company would operate. It did not give details on what the equity stakes would be.
(By Ana Mano; Editing by Edmund Blair)
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