Chilean Mining Company to Start Exploration in Ecuador

According to ElComercio.com the Chilean state copper company, Codelco announced today, Monday August 1st, that it will begin mining project explorations in Ecuador with the help of Ecuador’s ENAMI and other private firms. Codelco, the largest copper producer in the world, says Ecuador is fairly new to metal mining and their copper mining knowledge could be economically beneficial. Codelco officials say they are investigating mining are in El Palmar, located to the north of Quito along with land in the provinsed of Imabaura, Zamora Chinchipe and Cotopaxi. In 2009, Codelco signed an agreement with ENAMI EP to generate copper mining business in a time period of four years with an optional extension. Officials say that if more than one of the prospective mining areas in Ecuador generates enough interest, a business deal could occur in which a company will be formed by combining Codelco and ENAMI EP.Read Article