Mining
Gold, copper, silver, concessions
51 articlesBCE Gold Purchases From Small Miners Reach USD 573M Over 10 Years
The Central Bank of Ecuador has purchased more than 9.8 tonnes of gold from artisanal and small-scale miners over 10 years, totaling USD 573 million. Gold monetary reserves reached USD 3.812 billion by April 2026, representing 33.11% of international reserves.
Fruta Del Norte Produces 118,994 Gold Ounces In Q2 2026
Fruta del Norte produced 118,994 ounces of gold in Q2 2026, including 79,208 ounces in concentrate and 39,786 ounces of doré. Lundin Gold sold 110,385 ounces at an average price of USD 4,359 per ounce and maintained 2026 guidance of 475,000-525,000 ounces.
Singapore’s Boroo Enters Ecuador Through Codelco-Linked Mining Concessions
Boroo, a Singapore mining company, has entered Ecuador by acquiring a significant number of concessions from Emsaec, the Codelco subsidiary. The areas are in exploration stage, and company details are expected once Boroo finalizes its in-country agenda.
Ecuador Excludes Exploration From 2026 Mining Fee, Projects USD 44.04M In Revenue
Ecuador updated its 2026 mining supervision and control fee methodology to exclude exploration and economic-evaluation concessions. The government projects USD 44.04 million in total revenue, including metallic concessions, processing plants, non-metallic concessions and commercial licenses.
Ecuador Cuts Mining-Fee Revenue Forecast to USD 44M as Exploration Is Excluded
Ecuador reduced its projected annual mining-fee revenue from USD 220 million to USD 44 million after excluding exploration-stage concessions from the control fee. The revised framework, in force from June 26, adds 300 mineral-processing plants and recalibrates payment timing for 2026.
ARCOM Proposes Cutting Mining-Fee Target to USD 44M and Excluding Exploration
ARCOM is circulating a reform to Ecuador’s mining supervision fee that would cut projected collection by roughly 80%, from USD 221.75M to USD 44M. The proposal would exclude initial exploration, advanced exploration and economic evaluation projects, addressing one of the mining sector’s main investment-cost objections.
Ecuador Seeks 100% Mine Self-Generation in Cascabel and Mirador II Renegotiations
Ecuador is seeking contract addenda for the Cascabel and Mirador II copper projects, with power self-generation as a critical condition. The government wants new mines to cover 100% of their power demand as industrial mining could add at least 4,468 MW of electricity demand by 2035.
ARCOM Attack in Machala Raises Risk Around El Oro Mining Controls
An explosive attack affected the ARCOM office in Machala on the night of June 12, 2026. Authorities linked the incident to 88 illegal-mining operations in El Oro, adding a security-risk layer to mining enforcement in one of Ecuador's active control zones.
Orellana Illegal-Mining Operation Destroys Equipment Worth Estimated $1.2M
A military operation in Orellana caused an estimated $1.2 million loss to illegal mining structures, according to the Defense Ministry. The intervention destroyed camps, excavators, suction motors, classifiers, generators and 2,660 gallons of fuel.
Ecociencia Identifies 111 Mining-Affected Hectares in Protected Areas
Ecociencia identified 111 hectares affected by mining inside protected and conservation areas in Zamora Chinchipe. The report monitored four case studies from 2011 to 2025 and points to enforcement pressure in Ecuador’s southern Amazon mining corridor.
Energy Minister Says Cascabel Mining Contract Will Be Renegotiated
Ecuador's energy minister said the Cascabel exploitation contract will be renegotiated, Primicias reports. The project carries a 33-year mine-life plan, approximately $4.2B in expected investment, a 4,979-hectare concession and Chinese control after Jiangxi Copper's SolGold acquisition.
Cerro Azul Order Tests Ecuador Mining Cadastre Reopening After Eight-Year Freeze
Ecuador's mining cadastre reopening moved back into focus after a ministerial agreement tied to Cerro Azul, Primicias reports. The order directs Arcom to begin a gradual and progressive opening for small mining of aggregates and stone materials in the Guayaquil-Daule-Samborondon corridor.
Mining Exports Reach $1.381B in Q1, With Fruta del Norte and Mirador at 75% of Value
Ecuadorian mining exports reached $1.381 billion through March 2026, up 65% year over year, according to Primicias. Fruta del Norte and Mirador represented 75% of mining export value in the quarter.
Cangrejos Gold Project Pays First $34M in Advance Royalties; Total Obligation Set at $54M
ODIN Mining confirmed payment of $34 million in advance royalties at contract signing for the Cangrejos gold project in El Oro. The company will pay $54 million in total, with remaining installments tied to plant construction, tailings facility construction and start of operations.
Ecuador Signs First Open-Pit Gold Mine Contract: Cangrejos at $1.648B Investment, 26-Year Term
Ecuador's government formalized the exploitation contract for Cangrejos — the country's first open-pit gold mine and the world's 13th-largest undeveloped primary gold deposit. Chinese-backed Odin Mining Ecuador (CMOC subsidiary) will invest $1.648 billion across a 26-year contract in El Oro province.
Army Dismantles Illegal Mining Camp in Puyango, Loja — Mercury Seized Near Bosque Petrificado
The Ecuadorian Army dismantled an illegal mining camp in Puyango canton, Loja province, near the Bosque Petrificado and Río Puyango. Seizures included mercury, water pumps, and an unidentified white substance; no arrests reported.
Cangrejos Gold Megamine: CMOC/Odin Mining Contract Signing Targeted for H1 2026, $34M Upfront
Ecuador's third large-scale mining exploitation contract — the Cangrejos gold project in El Oro operated by CMOC Group subsidiary Odin Mining del Ecuador — is expected to be signed in H1 2026. The state will receive $34 million on signing with $54 million in total anticipated royalties. Production capacity is projected at 11.5 metric tons of gold annually.
Lundin Gold Executes Silver Stream Agreement with LunR Royalties — Fruta del Norte
Lundin Gold Inc. executed a definitive silver stream agreement with LunR Royalties Corp. for the Fruta del Norte gold mine in Zamora-Chinchipe province. LunR will acquire the life-of-mine silver stream in exchange for 50.5 million LunR common shares, which Lundin Gold intends to distribute to its shareholders as a dividend in kind.
Ecuador Mining Reform Law Active Since March 2 — Key Changes for Operators and Investors
Ecuador's reform law on strategic mining and energy sectors entered into force on March 2, 2026, introducing significant changes to the mining legal framework. Key provisions include the creation of integrated mining clusters, state protection for strategic mining areas backed by the Armed Forces, a revised royalty framework, and streamlined permitting processes designed to attract new investment.
Llurimagua $3B Copper-Molybdenum Tender Expected This Year After Codelco Exit
Ecuador's state mining company Enami plans to launch an international tender this year for the $3 billion Llurimagua copper-molybdenum project in Imbabura province, following the exit of Chile's Codelco from the joint venture. The project, containing an estimated 5.2 million tonnes of copper equivalent, represents Ecuador's largest single mining investment opportunity.