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Ecuador will invest 60 million dollars in the mining sector

Inspenet.

September 21, 2022

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By: Franyi Sarmiento, Ph.D., Inspenet, September 21, 2022

Ecuador projected that the two main mines in the country, the copper mine; Mirador and the gold one; Fruta del Norte, allocate investments of USD 60 million throughout 2022.

According to the Central Bank report, during the first quarter of the year, Ecuador received investments of USD 35.5 million in the mining sector. Of that figure, 37% came from the Amazonian province of Zamora Chinchipe, where Mirador and Fruta del Norte are located.

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According to the report, the Mirador open pit mine is operated by EcuaCorriente, while the Fruta del Norte underground asset is owned by Lundin Gold.

The Lundin mining company plans to disburse USD 49.9 million to Fruta del Norte in 2022, of which USD 9.18 million has already been executed in the first quarter. According to BNamericas, between 2022 and 2025, the company’s investment should reach USD 146 million.

While for this year EcuaCorriente has USD 9.62 million planned for Mirador. Of that amount, it has already invested USD 4.03 million up to March of this year. Likewise, during the years 2022 to 2025, the investment must add up to USD 112 million.

This material from the rumbominero.com portal in Spanish was edited for clarity, style and length.

Source : https://www.rumbominero.com/peru/noticias/internacionales/ecuador-inversion-mineria-gran-escala/

Photo: ShutterStock