Ecuador is one of the mineral-rich countries in the world. However, it was engaged in large-scale mining operations in 2019 because of its small area and the fact that the great mining authorities ignored it. However, some of the largest Canadian and Chinese mining companies are hosting the country with copper mining and exploration projects. But, still, a large area of the country is unexplored.
This article will discuss the details of a few Canadian companies working in Ecuador to mine copper, what projects they are establishing, and how they are contributing to Ecuador’s economy.
Copper Mining Companies In Ecuador
When expert researchers and miners saw the great mining opportunities in Ecuador due to the value of its natural mineral resources, the country’s government policies changed, and bills started passing at a fast rate. Due to this change, multiple foreign investors, including investors from Canada, took this opportunity and arrived in Ecuador to get their foot into the mining industry several years ago. Now, they are leading some of elite Ecuador’s mining projects. Solaris Resources is a great mining company in Canada that is developing its Warintza project to explore copper in Ecuador.
Moreover, Andean Copper Belt is an area in Ecuador that is estimated to hold the world’s half copper reserves—attracting top-level copper mining companies and allowing them to make a considerable amount of profits.
Mining companies like Solaris Resources (TSXV SLS) can make large amounts of profits in Ecuador because of Ecuador’s rich mineral resources and can contribute to the economy’s growth.
Following is the list of some of the top mining projects in Ecuador that are estimated to set production in 2025:
- Loma Larga
It is a copper, silver, and gold mining project that is awarded to Canada’s INV Metals company and is located in the southern province, Azuay. The development and construction of this project are estimated to cost around 310 million dollars, and the project will begin in 2022 or 2023.
- Ruta del Cobre
This project is given to Grupo Mexico company to carry out the production of copper and molybdenum located in the Azuay province. Its production of the metals is scheduled to begin in 2024.
This is a copper, gold, silver, lead, and zinc production project with the beginning of construction scheduled in 2022. This project is owned by Canada’s Salazar Resources, and the location of the project is Central Bolivar province. The overall development cost of this project is estimated to be around 180 million dollars.
This project is awarded to the popular copper and gold producer Lumina Gold, and its location is in southern Ecuador, the province of El Oro. The scheduled production start of this project is in 2024, and its estimated construction is 800 million dollars.
Ecuador has discovered its mining potential and the fact that there is a whole great opportunity for mining companies to mine and explore copper in Ecuador. The government is also taking necessary measures to promote foreign mining companies to build projects in Ecuador. Soon, Ecuador will be one of the top copper producers in the world.