Ecuador seeks to boost mining with 2020-30 plan

Ecuador is looking to position mining as an important cornerstone of the country's economy over the next decade.

The government has now finished preparing the 2020-30 national mining development plan, which is based on six pillars: economic development; social and environmental sustainability; research and development; management and administration; regulation and control; and combat of illegal mining, a government source told BNamericas.

According to the source, these pillars are intended to attract private investment, strengthen the social responsibility of those who conduct mining activities, stimulate research and use of technology to preserve the environment, promote efficient public administration and support a strong regulatory framework, among other objectives.

At the moment, Ecuador has five projects that are considered to be of strategic importance: Fruta del Norte, Mirador, Río Blanco, Loma Larga and San Carlos Panantza, which together involved investments of US$2.03bn between 2017 and 2018. 

Fruta del Norte and Mirador are currently the only two large-scale mining projects in production.

Río Blanco has been halted since 2018 by a legal process brought by anti-mining groups.

Panantza-San Carlos has been the focus of social conflicts that have not allowed exploration to advance.

Meanwhile production at so-called second-generation projects, which are at various stages of exploration – Cascabel, Llurimagua, Curipamba, Ruta del Cobre, Cangrejos, La Plata – should begin within the next five years.

The government is already working on implementing a mining cadastre this year, in order to attract investment for new projects in areas with high geological potential.