Ecuador hopes to attract mining investment to make up for lower income from oil sales

Posted on October 28, 2015 • Filed under: Ecuador, Latin America Mining

mining.com reported Ecuador aims to attract at least $750 million in foreign mining investment during the first quarter of 2016 by opening new areas rich in gold and copper for exploration.

The tiny nation, feeling the pinch of long-sustained weak oil prices, has high hopes that mining incentives and tax benefits will polish its tarnished image, eventually attracting foreign firms to help develop its riches.

“We have 25 mining areas to allocate,” Strategic Sectors Minister Rafael Poveda told El Universo (in Spanish). “We have built a map of strategic areas that could be assigned to foreign companies for exploration.” Read Article

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