Government announces an auction of mining areas for exploration

The Ecuadorian government is preparing an auction of mining areas totaling 431,801 hectares for exploration. This tender will take place in the coming months according to authorities, but a specific date has not yet been disclosed. The exposure of these new areas for exploration...

Ecuador signs memorandum with Russian oil company

The Coordinating Minister for Strategic Sectors of Ecuador, Rafael Poveda, and the representative in Latin America of the Russian State Oil Company, Rosneft, Mikail Hrafinin, signed a memorandum of understanding to seek investment in the hydrocarbons sector in Ecuador....

Ecuador seeks to install an aluminum processing plant

The Coordinator Minister of Strategic Sectors Rafael Poveda, signed on Wednesday October 29 an understandingmemorandum for strategic cooperation with China’s Chinalco corporation. According to a press release from the Ministry, this company is the world’s alumina...

Ecuador seeks to fund its projects in China

The Minister of Strategic Sectors Rafael Poveda, traveled to China to obtain financing of projects after the State intended to rely less on its budget, on the ups and downs of oil prices. Poveda had planned since October 28, in that country, to meet with officials of financial...

Financing credit with China is not signed yet but the works continue

The preliminary works for the construction of the Pacific Refinery, which would come into operation from 2017, continues despite the credit is still under negotiation with China. The Ministry indicated it would have other options for financing an agreement if the one with China...

ICBC Bank of China would finance Pacific Refinery

Minister of Strategic Sectors Rafael Poveda, said yesterday that they are currently in the final stage of negotiations with representatives of Chinese ICBC Bank for 100% financing of the structure of the Pacific Refinery (RDP for its Spanish acronym), which will cost 10 billion...

Strategic Sectors presents their investment offer

The Ministry Coordinator of Strategic Sectors filed yesterday, the third edition of the Catalogue of investment for strategic projects such as Basic Industries, Electricity, Water, Oil, Telecommunications, Environment and Mining. These lead the main projects, which require...