The National Mining Company (Enami) signed the Commercial Agreement with the Canadian company Solaris Resources Inc., on May 7, 2024. The purpose is to develop exploration activities on 39,734 hectares with mining potential, in Morona Santiago.
The signing of the agreement was attended by the Deputy Minister of Mines, Diego Ocampo, who was the witness of honor of this strategic alliance. The investment is USD 25 million, Enami reported.
Ocampo thanked the private company for trusting the country and the manager of Enami, Emmanuel Delaune, for creating a roadmap that "will energize the mining sector."
Government seeks to boost the mining sector
According to Enami's statement, the purpose of President Daniel Noboa and the Minister of Energy in charge, Roberto Luque, is to revitalize the sector. "We recognize that there are problems in the political and social spheres. But this is the industry of the future, the one that will lead us down a path of development, doing things right," Ocampo said.
In addition, he added that Enami's public policy is based on responsibly exploiting resources so that they go in favor of the people.
For his part, Delaune pointed out that Enami is once again positioning itself as the executing arm of the country's mining policy. "Our job is to generate responsible mining and who better than Solaris to represent this vision. We will continue to work hand in hand for the benefit of the sector and the communities," he said.
In his speech, the president for Latin America of Solaris Resources Inc., Federico Velsquez, thanked the work of the negotiating team of the Agreement. In addition, he pointed out that the winners are Ecuador and the provinces where this money will be invested.
"Five years ago, Solaris came up with a responsible and inclusive mining model, where communities and companies in the sector are part of the process. An innovative model without precedent in Latin America and that Ecuador allowed to be applied," he added.
Through this Commercial Agreement, Enami will develop exploration activities in an area of 39,734 hectares, in Morona Santiago. This legal figure seeks to contact the best strategic allies to intervene in the exploration phase of different areas of great mining potential in the country. In this phase, studies will be carried out with advanced technology to make the most of the existing resources. In addition, maximizing benefits for the state and communities.