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After years of stalemate, Ecuador and Chile have resumed talks to work together to develop major copper mines, at a time when demand for base metals will surge
amid the emerging clean energy transition.
Ecuador's energy and mining minister Xavier Vera said Chile's national copper producer Codelco agreed to Ecuador's Enami's request to suspend two arbitration proceedings
over the Llurimagua copper-molybdenum exploration project in the Impabra Andes region.
"The suspension creates positive conditions for negotiations," Vera said in an interview in Toronto on Sunday, "and we have established contact
with Codelco's top management.
" ”
Environmentalists have previously opposed the development of Llurimagua, arguing that it would cause irreparable damage
to the pristine, heavily forested valley.
Ecuadorian President Guillermo Lasso hopes to address licensing bottlenecks and strained community relations
that have hampered the mineral-rich country's development as talks resume Llurimagua.
Vera said the government is moving forward with the development of
mining registers, or cadastrals.
It is also developing a new competitive exploration licence awarding system; Introduction of the right of indigenous peoples to free, prior and informed consent for new projects, etc
.
Mining generated about $2.
1 billion in export earnings for Ecuador last year, double what it was in 2020 and is expected to reach $10 billion
by 2030.
There are a handful of projects close to development, including Southern Copper's Ruta del Cobre project, Solaris Resources' Warintza project, and others
.
Vera described it as a "very special moment" for Ecuador, despite some citizens opposing large-scale mining
in parts of the country.
As mining projects around the world become increasingly tricky and expensive to find and develop, more and more companies are taking Ecuador
seriously.
These companies include Barrick Gold and Peru's SAA
.
Ecuador said it would expand its exchanges
with Li in the near future.
After years of stalemate, Ecuador and Chile have resumed talks to work together to develop major copper mines, at a time when demand for base metals will surge
amid the emerging clean energy transition.
Ecuador's energy and mining minister Xavier Vera said Chile's national copper producer Codelco agreed to Ecuador's Enami's request to suspend two arbitration proceedings
over the Llurimagua copper-molybdenum exploration project in the Impabra Andes region.
"The suspension creates positive conditions for negotiations," Vera said in an interview in Toronto on Sunday, "and we have established contact
with Codelco's top management.
" ”
Environmentalists have previously opposed the development of Llurimagua, arguing that it would cause irreparable damage
to the pristine, heavily forested valley.
Ecuadorian President Guillermo Lasso hopes to address licensing bottlenecks and strained community relations
that have hampered the mineral-rich country's development as talks resume Llurimagua.
Vera said the government is moving forward with the development of
mining registers, or cadastrals.
It is also developing a new competitive exploration licence awarding system; Introduction of the right of indigenous peoples to free, prior and informed consent for new projects, etc
.
Mining generated about $2.
1 billion in export earnings for Ecuador last year, double what it was in 2020 and is expected to reach $10 billion
by 2030.
There are a handful of projects close to development, including Southern Copper's Ruta del Cobre project, Solaris Resources' Warintza project, and others
.
Vera described it as a "very special moment" for Ecuador, despite some citizens opposing large-scale mining
in parts of the country.
As mining projects around the world become increasingly tricky and expensive to find and develop, more and more companies are taking Ecuador
seriously.
These companies include Barrick Gold and Peru's SAA
.
Ecuador said it would expand its exchanges
with Li in the near future.
