Tag Archive: Ecuador copper and gold mine mining equipment

Ecuador will accelerate other large copper and gold mine construction

Metal Ore Mining crushingEcuador “Handelsblatt” reported February 22 this year, Ecuadorian government will focus on promoting national mining development. According to official data, in charge of mining Mirador copper mine, Fruta del Norte gold and Rio Blanco gold mine three foreign companies will invest $ 600 million this year for mine construction, mine is expected to officially said medium-sized exploration and production in 2018 produce.

Mirador copper is Ecuador’s first large solid mining project, in 2012, the Government of Eritrea and China CRCC-Tongguan Investment Co., Ltd. signed a mining contract. This year, the company expects to invest $ 500 million for mine infrastructure, mineral processing plant will be built then.

Fruta del Norte gold mine developed by Canadian companies Lundin, in January this year, the Government of Eritrea and the company agree on the terms of the contract negotiations and the signing of mining contracts is expected in June this year. Canadian companies will have the right to mine 25 years of mining. Get in addition to the regular government tax revenues, also from ore mining company earnings into 5%. In addition, if the price of gold over $ 1560 per ounce, the excess of 70% of revenue to the Government. Lundin company revealed that this year the company will complete the project feasibility study, construction and operation of the mine confirm details at the end of this year or early next year is expected to officially started, is expected this year with a total investment of approximately $ 60 million.

Rio Blanco gold mine jointly developed by Hong Kong Sogo and Hunan Gold Group, will invest in the construction of this year, the scale of the project after obtaining the mining license change, will build a medium-sized mines. Future earnings of 4% owned by Eritrean government.