Roundup: Curipamba-El Domo progress, Fruta del Norte production

Canada’s Silvercorp and Salazar Resources are planning to start production at the US$250mn Curipamba-El Domo polymetallic project in Ecuador in 2H26.

The earthworks contract has been awarded to China's CRCC 14 Bureau Group, a company with "over 10 years operating experience in Ecuador building infrastructure in open pit mines and in the heavy civil construction sectors," Silvercorp said in a press release.

Since Silvercorp completed its acquisition of the project's majority shareholder Adventus Mining in July last year, the companies have made progress. 

Achievements include advancements in the detailed engineering design for the processing plant, signing of a powerline contract with state company CNEL, and the start of permitting for standby diesel power generation during dry season, as climate change has severely impacted electricity supply in the country.

Curipamba is a medium-sized project and expected to become the third industrial-scale mine in Ecuador, besides Lundin's Fruta del Norte gold and EcuaCorriente’s Mirador copper mine.

Fruta del Norte output

Fruta del Norte produced 502,029oz gold last year, up 4%, exceeding guidance of 450,000-500,000oz.

Gold production in 4Q24 totaled 135,241oz, consisting of 88,834oz of concentrate and 46,407oz doré, according to a press release.

As the plant expansion is mostly complete, Lundin expects to produce 475,000-525,000oz in 2025, with average mill throughput of 5,000t/d and improved gold recoveries, Ron Hochstein, the company's president and CEO, said.

Fruta del Norte’s useful life ends in 2034, but Lundin is carrying out exploration campaigns aimed at extending its presence in Ecuador for another 50 years.