2024-03-31 06:05:32
The president of Ecuador, who is on an official tour of the United States and Canada, will be one of the main figures at the Mining Fair, a space that seeks to attract investments in the sector. The activity has the participation of more than 130 countries.
The largest mining fair in the world, PDAC, began this Sunday in the Canadian city of Toronto (Canada) with the attendance of some 25,000 delegates from 130 countries around the worldamong them from Argentina, Chile, Ecuador, Mexico and Peru, to attract investments.
It is expected that the president of Ecuador, Daniel Noboa, attend the fair to promote investments at a time when political instability and insecurity have affected the arrival of foreign capital to the country.
The presence of Noboa in Canada can also promote the start of negotiations for the signing of a free trade agreement between Quito and Ottawa. The start of negotiations was initially scheduled for March, but the date has not been confirmed by either Government.
Ecuador, which has been promoting its mining sector at PDAC for years, will hold an event on Monday at the fair organized by the Chamber of Mining of Ecuador (CME) and the Ecuadorian Government and titled “World Mining Destination.”
In 2023, The Ecuadorian mining sector exported 3,324 million dollars, 19.8% more than the previous year. and consolidated itself as the fourth most important industry for the country’s foreign trade.
In comparison, Ecuador’s mining exports stood at $405 million in 2019.
But in Toronto, the promotion of mining in Ecuador will face rejection from indigenous groups and environmental and human rights activists.
Shortly before the start of the fair, a group of Shuar Arutam indigenous people from the Ecuadorian Amazon presented a complaint to the Securities Market Commission of the Canadian province of British Columbia against the Canadian mining company Solaris Resources for the Warintza project, which the company is developing in the Morona Santiago province.
The organization Shuar Arutam People (PSHA), who filed the complaint together with the organizations MiningWatch Canada and Amazon Watchalleges that Solaris Resources has not disclosed to its shareholders that the majority of PSHA communities oppose the Warintza project.
MiningWatch has described President Noboa’s support for mining investment as worrying when Canadian mining companies have been accused of serious human rights violations in the country.
On Tuesday, MiningWatch and other organizations, along with representatives of indigenous organizations and communities around the world opposed to mining development, plan to demonstrate in front of PDAC.
Chile, Peru and Spain, among other countries, will also carry out promotional activities in Toronto.
Peru’s Minister of Energy and Mines, Rómulo Mucho, heads the Peruvian delegation at the fair. The minister indicated in a statement that the presence of the Peruvian representation will serve to “promote Peru as an attractive destination for foreign investment.” showing progress achieved in terms of strategic simplification and unblocking of investments.
Peru is currently the world’s second largest producer of copper and silver, but suffered a drop in investments in the sector in 2023 as a result of the political crisis that caused protest demonstrations and paralysis of activities at the beginning of last year.
On Monday, PDAC will also celebrate ‘Peru Day’ to promote investment opportunities in this sector, and Minister Mucho will attend the Ninth International Summit of Mines Ministers 2024.
For its part, Chile’s economic development agency, CORFO, will hold an event on Tuesday to promote “greener mining” and on Wednesday, the last day of PDAC, it will be Spain’s turn as a destination to take advantage of new opportunities in old deposits. (EFE)