Ecuador2 Jan 2023 08:36
Large-scale mining, one of the mainstays of the Ecuadorian economy
The Chamber of Mining of Ecuador represents this sector and promotes mining with principles, transparency and responsibility.
Important milestones in 2022
The Chamber of Mining of Ecuador represents this sector and promotes mining with principles, transparency and responsibility. It is an industry that generates taxes, royalties and employment by being actively involved with the communities.
1. Poverty was reduced thanks to industrial mining
Zamora Chinchipe is the province that most managed to reduce the percentage of poverty. It has managed to reduce the percentage of poverty in the span of two years, according to the latest data available from INEC. Poverty in that province fell 13 percentage points if you compare 2019 with 2021 and reached 30%. In other words, before, 43 out of every 100 inhabitants were poor and that figure increased to 30 out of every 100.
2. Industrial mining is the answer to unemployment
Until the third quarter of this year, the sector had 46,298 direct jobs, which in turn generated 138,894 indirect jobs, giving a total of 185,192 direct and indirect jobs that benefit Ecuadorian families. (Source: Ministry of Energy and Mines).
3. The contributions of industrial mining to Ecuador are also reflected in the taxes paid to the State
The industry's tax collection, between January and September 2022, amounted to $592 million. Fundamental income for the national treasury. (Source: Ministry of Energy and Mines).
Loma Larga prioritizes local labor from the area of ??direct influence of the project. Team of geologists working in the El Guayabo sector, in the Torata parish of the Santa Rosa canton. Reforestation Program "1M" in the Cascabel Concession. Monitoring of water sources for the Curipamba-El Domo project. Confectionery Las Dalias, a women's organization from the Victoria del Portete parish, manufactures artisanal chocolates filled with local products. The organization was promoted within the Dundee Precious Metals Social Progression programme. Photo: Lundin Gold Photo: Dundee Precious Metals
4. Mining is the fastest growing sector of the economy
From January to October 2022, $2,310 million in mining products were sold abroad. The amount represents a growth of 42.24% compared to the same period last year. In the same period of time, Ecuador exported 178,962 tons of gold concentrate and 507,250 tons of copper concentrate. (Source: Ministry of Energy and Mines).
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