Lundin has been developing Fruta del Norte for over a year, following an agreement with Ecuador’s government allowing the miner to move ahead with the gold project, the country's biggest.
Ecuador Mining News
Results from 11 of the 12 drilling rigs at its 85%-owned Cascabel copper-gold project, suggest there is much more intense mineralization in the property than thought earlier, the company said.
The project could become the first mine Codelco operates abroad.
“We want to grow to be an at least 1-million-ounce-a-year producer with three to four operations,” said Chief Executive Ron Hochstein at PDAC.
Copper ‘might be the easiest asset to work with:’ Lukas Lundin.
Newcrest to invest $250 million to take stake in Lundin Gold.
The company’s Cascabel project is located in the northern portion of the Andean copper belt in Ecuador, renowned for hosting almost half the world’s copper known reserves.
Fruta del Norte is expected to produce 340koz of gold per year over 13 years.
And 12.3m contained ounces of gold.
Brisbane-based company promised maiden resource for Cascabel copper-gold porphyry on the Andean belt before the end of the year.
Back in September, the expectation for 2018 was of $488 million in revenues from industrial mining.
The Ecuador-focused miner said it has discovered "promising" new copper prospects at the Porvenir and Timbara projects, with rock chip samples graded up to 4.27% copper.
Outotec has been awarded an order for the delivery of minerals processing technology packages by Lundin Gold for their greenfield project Fruta Del Norte in Ecuador.
The Cascabel project is located in the northern portion of the Andean copper belt in Ecuador, renowned for hosting almost half the world’s copper known reserves.
Having climbed almost 64% since the start of the year, investor sentiment towards SolGold appears to be quite positive.
The placing is at a 15% premium to SolGold's closing price on Thursday and at a 12% discount to its peak share price of 46.75p on May 26.
Orion and Blackstone pay up to $450 million for prepaid and streamed gold and silver from Vancouver company's Fruta del Norte project in South America.
Experts believe the value of the nation's dawning industry is set to jump from $1.1bn this year to $7.9bn in 2021 on a combination of revised regulatory framework and significant gold and copper reserves.
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.
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.