RE: News article: BHP wants to invest heavily in Ecuador. Stars aligned!15 May 2025 09:12
We must apply everything the industry has learned elsewhere to our context. As Ecuadorians, we should not only aim for responsible mining—we should aspire to be a global example of how mining should be done.
We need clear rules, investment openness, and competitiveness. Ecuador isn’t the only country with mineral resources—many others have them too, including in Africa.
We must answer three key questions:
Who do we want developing our mining industry?
How do we want it developed? What environmental, social, and technological standards do we expect?
When? And the answer is now.
We’re at a global historical moment. If we do things right, we can create opportunities for thousands of Ecuadorian families.
You mentioned Chile’s mining boom coincided with electrification in the early 20th century. Now we’re also seeing a massive demand for copper—driven by the energy transition. Demand for gold is rising too—not just for reserves, but for tech and healthcare. Can we catch this wave?
— Absolutely. The stars are aligning for Ecuador. Look at gold—it’s shot up to nearly $3,000 an ounce. That’s wild. And copper, which I know very well, is entering a unique phase.
You have three driving forces:
More people want a better life—and that means more copper: better housing, appliances, infrastructure.
Electrification: electric vehicles, wind energy, solar—all require copper.
Data and AI: data centers and AI demand tons of copper.
BHP has done its own study—we believe copper demand will grow by 70% by 2050. That’s just around the corner.
What happens if that demand isn’t met?
— Great question. The answer isn’t simple. If supply can’t keep up:
Prices will skyrocket to unsustainable levels.
The global electrification effort—critical to tackling climate change—will be delayed.
A copper project takes 10-15 years from exploration to production. If demand is up 70% by 2050, and it’s now 2025—we’re already behind.
We need to start exploring, investing in discovered projects, strengthening regulations, building institutions, and training civil servants to understand mining. We must guide students into mining careers.
This industry isn’t just about exports or GDP—it can truly power a nation’s economy. But we need to act now.
We're about to finish, and I want to ask you the questions you raised: Who, how, and when?
— As an Ecuadorian, I want the best companies in the world here—those thinking in decades, not months. Companies that understand their impact, care about the environment and society, and know sustainability means shared value.
On the other hand, there are short-term actors—and then there’s illegal mining. I’m deeply concerned about illegal mining. With gold prices high, and with the national mining cadastre closed for 7+ years, illegal mining has surged 500%.
A recent study says 71% of Ecuador’s gold is illegal. These actors a