Ecuador expects mining investments to increase 360%

Ecuador expects mining investments to increase 360% in the next four years compared to the period 2013-2016, totalling more than $4 billion.

MINING.COM/Cecilia Jamasmie / Ecuador is quickly gaining ground as a mining investment destination in Latin America thanks to a revised regulatory framework and a major investor engagement campaign that has already attracted around 420 applications for concessions in less than a year.

Getting to this point, however, has not been easy for a nation that has traditionally based its economy on oil, bananas, cacao and coffee exports, but that it is rather foreign to mining, admits the country’s mining minister Javier Córdova.

Speaking to MINING.com on the sidelines of the Prospectors and Developers Association of Canada (PDAC) conference, held in Toronto this week, Córdova says one of the main mistakes Ecuador made in the past was to apply legislation designed for the oil sector to miners, which just didn’t work. Read Article

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