Ecuador to sign large scale copper mining agreement with China

Posted on March 2, 2012 • Filed under: Business, China, Ecuador, Latin America Mining

The Non-Renewable Resources Minister, Wilson Pastor, said a few minutes on Monday at 17:30 in the hall of the Palace of Carondelet Amarillo will be signed the first contract for the exploitation of large-scale mining. The agreement was signed between the State and the Chinese company Ecuacorriente (ECSA) operating within the Mirador project located in the province of Zamora Chinchipe. The project has recoverable reserves of 5 000 million pounds of copper. Each of them is currently trading at about $ 4. The contract will run for 25 years and during the first five years the company will invest close to USD 1400 million. Read Article

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