Ecuador's mining exports close to US$2bn in 7 months

Ecuador's mining exports totaled US$1.95bn in the first seven months of the year, or 68% of the projection for all of 2023.

According to the central bank, the amount is 21.4% higher than in the same period last year.

Gold in doré led with US$773mn while copper and copper in concentrate accounted for US$752mn and gold in concentrate US$422mn.

The main destinations were China, the United Arab Emirates and Switzerland.

Minerals are Ecuador’s fourth largest export products after shrimp, oil and bananas.

Ecuador has only two large-scale mines in production, the Mirador copper operation of EcuaCorriente and Lundin Gold’s Fruta del Norte mine.

The two companies have plans to increase production in Ecuador.

There are a number of projects that could start production in the coming years but they face opposition, especially from indigenous communities and anti-mining groups.