Ecuador Signs Historic Agreements for more than US$4.8 billion within the framework of PDAC 2024

Communiqué from the Chamber of Mining of Ecuador

This is an automated translation of the press release issued in Spanish

At a crucial time for the Ecuadorian mining industry, President Daniel Noboa Azín led a series of strategic meetings during the World Exploration and Mining Convention in Toronto, Canada.

In collaboration with the banking giant BMO, a meeting was held with investment banks interested in Ecuador.

At the meeting, which was also attended by authorities and partners of the mining companies of the Chamber of Mining of Ecuador, the president commented on the conditions in which he received the country, the lines of government, the ways in which it is facing organized crime, and the plans to make Ecuador a safer country and thus more attractive to investments.

After the meeting and with the presence of the ministers Andrea Arrobo, of Energy and Mines, and of Production, Foreign Trade, Investments and Fisheries, Sonsoles García, the signing of six investment agreements was carried out that represent a joint value of more than USD 4.8 billion, which represents an unprecedented milestone for our country and reflects the transformative power of the mining industry.

This signature represents a testimony of the mutual interest of both the Ecuadorian State and investors in developing sustainable and responsible mining projects.

The investment commitments were made through notable projects in the mining industry.

Among these projects are: Cascabel, led by Solgold and signed by Scott Caldwell; Crabs, by Lumina Gold, represented by Marshall Koval along with Diego Benalcázar; La Plata, from Atico Mining, subscribed by Alain Bureau; Cóndor, by Luminex - Adventus, signed by Álvaro Dueñas; El Guayabo, from Torata Mining, under the signature of Sergio Rotondo; and Bactech with representation by Ross Orr.

These collaborations represent a significant commitment to the growth and sustainable development of the mining industry in Ecuador.

These agreements not only lay the foundation for future negotiations, but also demonstrate a shared commitment to economic growth and job creation, while addressing concerns about environmental and social sustainability.

Ecuador's participation in PDAC 2024 not only marks a milestone for the convention, but also establishes a new chapter in the sustainable development of the country's mining industry.

With a focus on transparency, accountability and long-term commitment, Ecuador positions itself as a reliable and attractive partner for foreign investment in the mining sector.