Ecuador inks deal for first large-scale open-pit mine

Ecuadorian President Rafael Correa this month moved a step closer to his goal of large-scale mining development in his country, signing a contract that will enable a Chinese-controlled company to undertake the Mirador open-pit copper-mining project. The deal, signed March 5, culminated two years of negotiations with Ecuacorriente, which is controlled by the Chinese companies Railway Construction Corp. and Tongling Nonferrous Metals Group Co. It marks Ecuador’s first large-scale, open-pit mining project, with production expected to begin in 2014 following construction of infrastructure including a copper processing plant, a 129-megawatt hydroelectric plant and water- and waste-treatment systems. The Mirador project site is located in the mountains of Tundayme Parish, in the southern province of Zamora Chinchipe. Ecuacorriente... [Log in to read more]

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