There are five major ‘strategic’ mining projects that have been in the pipeline in Ecuador since 2010. None of them have entered the production phase yet but Córdova expressed his confidence that 2015 would be a breakthrough year for the mining sector.
The most advanced of the five projects is the El Mirador open-pit copper mine in the southern Amazonian province of Zamora Chinchipe. It is three years since President Correa announced Ecuador’s first large-scale mining project in March 2012, when the Chinese company, Ecuacorriente, agreed to invest US$1.4bn in El Mirador.
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