Monday, September 4, 2017

Ecuador expects $488 million in revenue from mining

Ecuador’s Ministry of Mining announced that the country expects to receive $488 million in revenue in the next four years from the 237 mining concessions that it recently granted to private companies. Ecuador anticipates more than $4 billion in mining investments by 2021.
The ministry highlighted Lundin Gold (, who has invested more than $400 million in the Fruta del Norte project.
'Ecuador Day' at the 2017 Prospectors and Developers Association of Canada's annual convention saw a statement signed by over twenty Ecuadorian organizations that questions the legitimacy with which Ecuador is being promoted as 'open for mining business'.