China wants to buy Fruta del Norte

China Junefield mining company could work with Ecuador

The company Kinross has at least one offer to buy the Fruta del Norte project in Zamora, in order to exploit the settlement under the conditions determined by the regime.

Last week the Chinese private mining company, Junefield, submitted a letter to the regime authorities showing their intention to take the reins of the project. This includes the purchase of assets of Kinross in Ecuador, including mining concessions where Fruta del Norte is. This project is located in Zamora Chinchipe and has certified reserves of 6.8 million ounces of gold, which are valued at USD 8800 million according to the current market prices.

Because the operating permit of Kinross with Fruta del Norte, expires on Thursday, August 1, and the Ecuadorian regime’s willingness not to renew the contract caused that the Canadian company abandoned the site and began to negotiate the transfer of its concessions with China Junefield.