2019, a relevant year for the mining industry in Ecuador
2019 was an important year for the mining, electrical and oil sectors of Ecuador.
In mining, the exploitation and export of copper and gold on a large scale in Zamora Chinchipe began in the country. The first project opened was Mirador.
The copper-rich mine is operated with Chinese capitals by Ecuacorriente SA. Its production of copper concentrate began on July 18, 25 years after being granted.
The plant has the capacity to process 60,000 tons of material daily. According to the Ministry of Energy and Non-Renewable Natural Resources, this mine has a useful life of 27 to 30 years. The investment from exploration to its closure amounts to $ 2,015 million.
Additionally, for taxes, profits and royalties, the State provides revenues of $ 7,635 million. Exports from Mirador will add $ 30,305 million to the country. The second large-scale mine that began producing this year was Fruta del Norte, run by Lundin Gold.
The inauguration of the project took place on November 14. It is estimated that there are five million ounces of gold in its territory. The production of 310,000 ounces per year is estimated in the 15 years of the mine’s useful life
On December 8, the first export of 177.9 tons of gold concentrate to Europe was already made. The Government expects this mine to generate export revenues of $ 7,887 million between 2019 and 2034.