Loma Larga moving ahead Dundee to sign US$340mn investment contract for Ecuador mine
Bnamericas
Published: Wednesday, September 15, 2021 Canada’s Dundee Precious Metals is set to sign this month a US$340mn investment contract with Ecuador for the construction of the Loma Larga gold mine.
Government sources, requesting anonymity, told BNamericas the contract is in the final stage of review at the economy and finance ministry.
Deputy minister of mines, Xavier Vera, told radio station La nica that SolGold also committed to invest US$430mn in its Cascabel mine and Lumina Gold US$37mn in the Cangrejos project.
The investments will generate “a boom” of large-scale mines starting in 2023, he said.
Loma Larga, in Azuay province, has production potential of around 200,000oz/y of gold in the first five years, but faces local opposition.