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Iceland Rules Out Seizing HS Orka From Magma, Frettabladid Says

Iceland’s government has ruled out expropriating geothermal producer HS Orka hf, currently owned by Canada’s Magma Energy Corp., said Frettabladid, citing Industry Minister Katrin Juliusdottir.

The island’s government has asked Juliusdottir to negotiate with Magma that its right to utilize geothermal power in the country will be shortened from its current 65-year lease, the Reykjavik-based daily reported.