2024-05-02 02:25:25
According to him Ministry of Energy and Minesbetween January and December 2023, the mining exports rose to $3,324 millionwhich represents an increase of 20% compared to 2022, when exports reached $2,775 million, and an increase of 59% compared to 2021, when the Banco Central reported $2,092 million in mining exports.
These incomes place the mining sector as the fourth most important export item in Ecuador, after Petroleum ($7,823 million), the shrimp ($7,295 million) and the banana ($3.77 billion).
Furthermore, according to the Internal rents service (SRI), in 2023 the country collected $762 million in taxes for mining, which is $92 million more than in 2022 and $413 million more than in 2021, when tax collection was $349 million.
The price of gold rose almost $500 per ounce in two years
Much of this increase in mining export earnings is attributed, for example, to the high cost of the price of gold, whose onza As of March 2023, it is listed at $2.161. This amount reached $1,996 in the same month of 2022 and $1,685 in 2021.
According to data from the Central Bank, Ecuador exported 27 tons of gold in 2023, generating revenues of $1,390 million. In addition, it exported approximately 610 thousand tons of lead and copper, valued at $1,239 million. The remaining $695 million comes from the export of mineral salt, zinc concentrate, silver and other mining products.
Illegal mining increased by 261%
Not all mining figures are encouraging. Since 2020, both the Government, international organizations and environmental groups have identified a notable growth in illegal minery, whose activity is focused mainly on the provinces of Napo and Zamora Chinchipe during the last three years.
In 2022 alone, for example, illegal mining generated between $600 million and $810 millionas reported by digital media, such as Plan V, or the United Nations (HER). In an analysis carried out by the energy and mining engineer, Miguel Robalinoin the Politically Correct program on Sunday, March 17, it was estimated that the increase in these irregular activities could even reach 261%.
If this figure is compared with the $2,775 million registered in 2022, it could be said that the 25% of production belongs to illegal mining; that is, one every four dollars. The problem is that this high amount of resources evades state taxes. Without failing to mention the serious environmental problem generated by its unregulated exploitation. In addition, it is a niche where organized crime launders money.
However, since last March 4, 2024, the president Daniel Noboa has identified the mining sector as one of the economic priorities and plans were announced to attract six new mining projects since Canadawith a planned investment that exceeds $4.8 billion, by 2025.
Faced with the statements of the president and the Ministry of Energy, more than 80 anti-mining groupsas well as academics and environmental activists, have opposed the Government’s plan due to alleged effects on the environment, lack of control in informal mining and several complaints of violations of the rights of workers and indigenous communities.
How many mining projects are there in Ecuador?
According to the 2023 accountability report, the Ministry of Energy and Mines records 14 mining projectsboth in the exploration and extraction phases, which are located in the south east and north of Ecuador.
The projects are: Curipamba (The rivers), White River (Azuay), Imba-Amadores (Imbabura), San Carlos Panantza (Morona Sanatiago) Jingle Bell (Imbabura), At payment (Cotopaxi), Llurimagua (Imbabura), Loma Larga (Azuay), Warintza (Morona Santiago), Turning-Telimbel (Bolívar), Congregos (Gold), Mirador (Zamora Chinchipe) and Northern Fruit (Zamora Chinchipe).
According to the Government, the two most important large mines are Mirador and Fruta del Norte, both located in the province of Zamora Chinchipe, operated by the Chinese company Equacurrent and the Canadian Lunding Goldwhich since its beginnings of operations, both in 2019, each project registers on its web portals having made an estimated investment of $1.2 billion.