$430m agreement signed?19 Nov 2021 21:26
The signing of the commitment with SolGold is for the gold and copper exploitation stage within the Cascabel mining concession, located in Ibarra, Imbabura province. The project is currently in the stage of economic evaluation of the deposit.
The investment amount amounts to USD 430 million for the next 10 years. This mine is expected to have a useful life of between 49 and 66 years.
Andrew Taunton , vice president of SolGold, recalled that in the Cascabel concession there is a gold, copper and silver deposit , which is among the largest in the world. The place has already been explored by this Australian company.
“This exploration stage has lasted approximately 10 years. Now we are entering an evaluation stage, ”he said. This process ends with a technical study to extract the minerals.
"This document that we signed today allows us to conclude with the signing of a formal investment contract in the next few days," added Taunton.
https://www.elcomercio.com/actualidad/negocios/gobierno-inversion-minera-oro-imbabura.html
https://www.bnamericas.com/en/news/ecuador-signs-us466mn-investment-contracts-for-major-mines