Corporate M and A 2026

ECUADOR Trends and Developments Contributed by: Félix Reyes, Lorena Barrazueta, Jorge Sicouret Zea and Karla Condo, Coronel & Pérez

and the practicality of implementing control changes through a corporate vehicle subject to established reporting and corporate governance mechanics. A material driver of negotiation dynamics in 2025 was ARCOM Resolution ARCOM-003/25, published in the Official Registry in June 2025, which created and fixed the supervisory and control fee (mining tax) – tasa de

supervisión y control (tasa minera) – applicable to mining right-holders. The charge model incorporates variables such as concession hectares and the min - ing phase. In practical deal terms, this measure has become a recurring diligence item and has influenced valuation discussions and regulatory-risk allocation provisions, particularly for exploration-heavy portfo - lios with extensive land packages.

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