Ecuador, an Andean country, has large deposits of copper and gold. It enjoys amazing mineral resources with its leading copper-producing neighbors; Peru, Chile, and Colombia. Moreover, there are an estimated 3.2 million tons of copper reserves present in Ecuador.
According to Ecuador’s minister of energy and non-renewable natural resources, Ecuador will be an industrial-scale exporter of minerals by generating copper. He added that 2020 to 2030 would be the decade of mining in Ecuador. It will engage and create billions of dollars in investments.
Geology of Ecuador
Being near to Peru and Chile, the largest copper producers, Ecuador has spectacular geology. With only little exploration and mining, massive deposits were found. And it can become the largest copper deposits when mines are developed. The Andean Copper belt stretches from Chile in the south to Colombia in the north and from northwest to Panama. The tenement is on the line of renowned belts (Eocene and Miocene metallogenic), the world’s largest porphyry copper deposits.
Canadian Companies In Ecuador
Some of the Canadian-based companies working in Ecuador are Aurania Resources, Adventus Zinc, Cornerstone Capital Resources, Core Gold, Goldgroup Mining, INV Metals, Lucky Minerals, Lumina Gold, Luminex Resources, Lundin Gold, Salazar Resources, Solaris Copper, and Toachi Mining
Solaris Resources announces some significant discoveries at the Warintza copper project. Its infrastructure is in the same belt as the Fruta del Norte (FLN) and Mirador mines. About tens of millions of copper is estimated at this belt. The recent drilling has bisected 1.029 meters of 0.73% CuEq, 1000 meters of 0.60% CuEq, and 786 meters of 0.67% CuEq from the surface. The drill strike length has also been extended. Read more at New discovery at Warintza East.
Major Mining Projects in Ecuador
Experts find great potential in Ecuador due to its water resources and geology. Its location in the Andean Copper Belt, an area from Panama to Chile holding half of the world’s copper reserves, is a plus point. Now, its era of large-scale mining has come. Fruta del Norte, owned by Canada’s Lundin Gold and Mirador Copper Mine by the Chinese metals group, is a recent mining project.
Other mining projects include the Cascabel copper, gold, silver mine run by SolGold, and the Llurimagua copper mine by Ecuador’s Enami and Chile’s Codelco. At the same time, these projects face opposition from nearby communities in fear of environmental damage.
Now, look at the major exploration projects in the coming four years. Production will set to start by 2025.
- In the southern Azuay province, LOMA LARGA (gold, silver, and copper project) was used by Canada’s INV Metals.
- CURIPAMBA (gold, silver, copper, lead, and zinc project) by Canada’s Salazar Resources.
- LA PATA (gold, silver, copper, and zinc project) by Canada’s Atico Mining.
- CANGREJOS (gold and copper project) by Canadian Lumina Gold.
The geology of Ecuador is the reason why it is attracting the largest mining companies. Moreover, a mining license must be granted when conducting mining in Ecuador. The above discussion might help you learn about Canadian copper explorations in Ecuador. For more information related to copper explorations, you can visit Solaris Resources and learn more about this topic.