ECUADOR Law and Practice Contributed by: Roque Bernardo Bustamante and Claudia Bustamante, Flor Bustamante Pizarro & Hurtado
5.6 Security Over Mining Tenements and Related Assets It is possible to take security on the shares of local subsidiaries, the mining concession itself and the assets. Security must be registered on local registers. 6. Mining: Outlook and Trends 6.1 Two-Year Forecast for the Mining Sector Production of copper at the Mirador project, and gold at the Fruta del Norte project, both large-scale pro - jects, indicates the considerable opportunities for the mining sector in Ecuador. The arrival into Ecuador of Newcrest, Anglo American, BHP, CODELCO, Fortescue and others in 2016 and 2017 was a sign of trust in the country and, eventually, may provide a foreign income stream to replace that currently produced by oil exports, which may start to decline at some point.
In 2024, the Cascabel project entered the exploitation phase, becoming the third large-scale mining project in Ecuador to reach this phase, with construction of the mine and production anticipated in the coming years. Additionally, the Curipamba project, a medi - um-scale mining project, has also advanced to the exploitation phase. This progress is a positive and encouraging development for the country’s mining sector. Several other projects, such as Warintza, La Plata and Cangrejos projects, are also on track to enter the exploitation phase and begin production in the near future, reflecting the growth of Ecuador’s min - ing industry and the potential for further growth.
116 CHAMBERS.COM
Powered by FlippingBook