Atlas Copco’s shares fell 9 percent at 1149 GMT, dragging Nordic industrial peers such as Sandvik and SKF lower, and also hitting German vacuum gear rival Pfeiffer Vacuum.
The government has introduced new regulations to ban asbestos and products containing asbestos, but they don't apply to residues left from mining the carcinogenic material.
The mining and quarrying industry is seeking government funding for an airborne geophysical survey program, considered an essential tool for attracting investment and job creation to the province.
The company has set up a representative office in Machala, capital of Ecuador's El Oro province, historically a gold-producing region, and will use this as a base to participate in South American projects.
The company is also seeking direct talks with the country's government, as it's been excluded so far from negotiations between controlling shareholder, Barrick Gold, and President John Magufuli.