Mining is booming in Ecuador
The Ecuadorian government supports the mining sector. The country's exports are already growing.
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Ecuador's exports from the mining sector reached a new monthly record of almost 180 million US dollars in June 2021. China plays a decisive role here, as it is the source of enormous demand for raw materials. Ecuador's mining exports are expected to reach 1.6 billion US dollars in 2021 as a whole. This would be around 60 percent more than in 2020. The Fruta del Norte gold mine and the Mirador copper property are responsible for this growth.
Uncertainties prevail in the neighboring countries of Peru and Colombia, which may turn out to be positive for Ecuador. Foreign investors are also getting more protection for their investments in Ecuador. Because it looks like Ecuador is getting closer and closer to international legal requirements in order to strengthen the mining industry.
Guillermo Lasso has been president of Ecuador since May. When the Ecuadorian economy collapsed in 1999, Lasso was appointed as the sole super-minister. He was responsible for managing the economic crisis. One of his first acts as president in 2021 was to set the goal of a free trade treaty with the United States and China. Lasso is a proponent of mining, wants to make mining more efficient and promote contracts with private investors. The Decree 151 he issued is seen as a clear support for the mining sector.
Increasing foreign investments, especially from Canadian companies, show the growing confidence in Ecuador's mining industry. Mining in Ecuador is carried out by Aurania Resources and Adventus Mining, for example.
Aurania Resources - https://www.youtube.com/watch?v=88pChq5Oulg - focuses on its projects in Ecuador and also in Peru, especially on precious metals and copper.
Adventus Mining - https://www.youtube.com/watch?v=S-yOuL-Cj8Y - focuses on other projects, especially the large Curipamba-El Domo project in Central Ecuador (gold and copper).
Current corporate information and press releases from Aurania Resources (https://www.resource-capital.ch/en/companies/aurania-resources-ltd/) and Adventus Mining (https://www.resource-capital.ch/en/companies/adventus-mining-corp/).
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