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Ecuador expects 4 major mining projects to start up by 2025

GUAYAQUIL, ECUADOR - APRIL 08: Presidential candidate Guillermo Lasso waves at supporters during the closing event of his presidential campaign at Yatch Club Naval on April 8, 2021 in Guayaquil, Ecuador. (Photo by Gerardo Menoscal/Agencia Press South/Getty Images)

QUITO, Sept 17 (Reuters) – Ecuador expects four major mining projects to start production by the end of President Guillermo Lasso’s first term in 2025, as the conservative leader seeks to diversify the economy before oil exports, the natural resources ministry said on Friday.

Lasso, a former banker who took office in May, is seeking to attract private investment to boost the economy after a deep recession last year exacerbated the government’s cash crunch. Ecuador has abundant mineral reserves, but has lagged Andean neighbors Peru and Chile in developing large-scale mines.

Three gold concessions to Canadian firms – Dundee Precious Metals’ (DPM.TO) Loma Larga, Atico Mining Corp’s (ATY.V) La Plata, and Adventus Mining Corp’s (ADZN.V) Curipamba – are in the advanced exploration stage and should begin production in 2023, the Energy and Non-Renewable Natural Resources Ministry said in its statement.

To read the full story on Reuters, click here.

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