Ecuador seen as potential major mining investment destination17 Nov 2020 22:17
Ecuador seen as potential major mining investment destination
Bnamericas Published:
Tuesday, November 17, 2020
Representatives of mining companies operating in Ecuador highlight the geological potential of the country, which could make it an important investment destination.
During the Expominas Virtual 2020, which is taking place in Quito and organized by HJ Becdach, Lundin Gold CEO Ron Hochstein said the geological potential of Ecuador is enormous and the responsible mining industry is essential for the reactivation of the country’s economy. Lundin Gold has the Fruta del Norte gold mine in Ecuador.
The president of Toachiec Exploraciones Mineras, a unit of Atico Mining, said Ecuador could become one of the principal destinations for mining investment.
Atico has the La Plata copper-silver-gold project in Ecuador, in central Cotopaxi province, which is in the advanced exploration phase.
Ecuador is located on the Andean Copper Belt, which extends from Chile to Panama and is estimated to host almost half the world's reserves of the red metal.
Companies such as Australia’s SolGold are investing in the country in projects like Cascabel, where the Alpala deposit was in 2019 among the 10 most important gold-copper-silver deposits in the world, according to the Brisbane-based company.
Other companies, including Anglo American, BHP, Grupo México and Lumina Gold also have invested in various projects in Ecuador and have their own projects in different stages of exploration.
The need for Ecuador to form mining clusters, similar to those in Australia, Mexico, Chile and Peru, was also highlighted.
Eduardo López, president and CEO of Ecuadoran company Sertecpet, said the country has abundant metallic, non-metallic and rare earth mineral resources to be able to implement mining clusters.
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