The country expects mining investments to increase 360% in the next four years compared to the 2013-2016 period as it has already granted 160 of the 420 explorations licences it put out to tender in July.
Ecuador Mining News
Bob Moriarty of 321 Gold chronicles the career of Dr. Keith Barron and his latest foray in Ecuador.
A clash between local indigenous peoples and police at a mine in Ecuador has forced a state of emergency.
The project, discovered in 2006, is one of the world’s biggest recent gold findings, with reserves estimated at about 4.8 million ounces of gold and 6.3 million ounces of silver.
Ecuador began last month granting licences for new exploration areas, with over 300 of them to be awarded by the year-end.
With construction expected to start in 2018, the US$669-million Fruta del Norte project could finally begin production before the end of the decade.
Lundin will pay Ecuador an advance royalty of $65 million. In exchange, the miner won’t be charged a windfall tax until it recovers its development investment.
The government is planning to open up new mining areas for gold and copper exploration.
The decision could set a precedent for similar cases involving mining companies around the world.
The country's armed forces raided 63 illegal mines operated by leftist guerrillas, blowing up machinery and arresting dozens.
Prosecutors claim the gold company and its top executives are at the centre of a money-laundering scheme involving cocaine traffickers.
Artisanal and illegal gold mining is fast extending its destructive reach into some of the world’s most untouched landscapes.
Ecuador recently scared off a potentially huge investment from Kinross, which had been set to develop the massive Fruta del Norte gold mine.
Kinross Gold Corp has agreed to sell its halted Fruta del Norte gold project in Ecuador to a company belonging to the Swedish-Canadian Lundin family for $240 million, Kinross and the company, Fortress Minerals Corp. said.
Changing its name to Lundin Gold.
The news come only weeks after the government announced it would begin funding explorations projects to locate deposits of the coveted elements.
Miner allegedly failed to pay the soldiers a periodical fee in exchange for them turning a blind eye to illegal mining on Venezuelan territory.
Why did Ecuador shake on the same deal that Venezuela walked away from just last year?
South American nation desperate to raise cash to repay $11bn borrowed from China "invests" 466,000 ounces of gold reserves worth $580m with investment bank.
The government may renew Kinross’s rights to the concession, or at least could remove legal hurdles to the prospective sale of Fruta del Norte gold-silver project.
They want the government to ease a regulation that forces more than 70,000 miners to register their mining activities by April 19 or otherwise face sanctions, including jail.
Newfoundland & Labrador-based junior strikes 324m grading 1.07% copper and 1.16 g/t gold, including 50m at 1.80% copper and 2.26 g/t gold at Cascabel project .
Includes involvement of police and military forces.
Together with the other three members of he Andean Community of Nations —Ecuador, Peru and Bolivia— the country has committed to destroy machinery and even properties that can’t be seized.
Once confined to Peru and Colombia, the shady business has spread out to neighbouring countries and is generating up to five times more revenue than drug trafficking.