Andrada Mining acquisition elevates the miner to emerging mid-tier status. Watch the video here.
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After five years with no new major mines starting operations, Ecuador awaits the start of construction on three projects that could jump-start its promising mining sector.
The country's first large-scale industrial mines opened in 2019 with the start of operations at the Fruta del Norte gold mine run by Canadian firm Lundin Gold and the Mirador copper mine operated by Chinese-owned company EcuaCorriente. They were part of an initial portfolio of key projects that included the Loma Larga and San Carlos-Panantza projects, as well as second-generation projects Cascabel, Cangrejos, Llurimagua, Warintza, Curipamba and La Plata.
Since then, political infighting, changes in government, stiff opposition to the mining industry and a tortuous permitting process slowed down new initiatives.
Now, three new projects – Curipamba, La Plata and Loma Larga – could see construction start in the short term and help attract more mining investment to a country blessed with extremely promising mineral resources.
CURIPAMBA (EL DOMO)
This US$250-300mn gold and silver asset is owned by Adventus Mining and Salazar Resources in Bolívar province.
The project comprises seven concessions covering approximately 21,500ha and includes the high-grade El Domo copper-gold deposit.
Last January, the companies obtained the environmental permit that will allow them to begin construction of the mine, which will become the country's third industrial-scale operation and is expected to employ up to 3,000 people either directly or indirectly.
Construction works should begin in the coming months, Freddy David Salazar, corporate development manager at Salazar Resources, told BNamericas.
In addition to complying with Ecuadoran regulations, the mine design meets the guidelines of the Canadian Dam Association, using a downstream tailings dam method with rockfill, which is considered the safest option, according to the companies.
LA PLATA
Located in Palo Quemado in Cotopaxi province, central Ecuador, Atico Mining's US$176mn polymetallic project must first complete the environmental consultation process before it can request the permit to allow it to begin mine construction.
That consultation process, conducted by the environment ministry, began in July last year but had tobe suspended for almost six months due to violence from anti-mining groups.
The ministry of energy and non-renewable natural resources recently extended the firm's concession until 2049, which Atico says creates better conditions to continue with its investment plans.
If necessary, the company also could request another 25-year extension in 2048.
However, Atico believes that construction of the mine should begin in 2025.
LOMA LARGA
Located in Azuay province in southern Ecuador, this US$316mn gold and silver project belonging to Canadian firm Dundee Precious Metals (DPM), requires the State to carry out environmental consultation and prior consultation with
Located in Azuay province in southern Ecuador, this US$316mn gold and silver project belonging to Canadian firm Dundee Precious Metals (DPM), requires the State to carry out environmental consultation and prior consultation with local communities before it can request the environmental permit to allow construction to begin.
According to a ruling made last year by a local court, prior consultation must be conducted in the Escaleras community in the Victoria del Portete and Tarqui areas, while the environmental consultation must be carried out in the project's area of influence.
According to DPM, Loma Larga has the potential to produce an average of 200,000oz/y of gold in the first five years.
The company plans to build an underground mine, with surface facilities including the ore processing plant, the paste fill plant, a tailings storage facility, and other installations, which will not exceed 84ha in the project area, DPM’s country manager, Scott Campbell, said in an interview last year with BNamericas.
We dont get much of a mention
Article is from today
https://www.bnamericas.com/en/news/spotlight-3-projects-that-could-jump-start-ecuadors-large-scale-mining
Mrpt, you my friend are one of the main reasons I'm here, you've told us now on countless occasions
every time the price drops you top up. the last one a month or so ago was for 8750000.
on a quick count back on your posts, you now own more than Mather, and you leave Rk trailing many
millions behind.
if nobody contradicts you clowns, this board would turn into a liars paradise.