Mining project in northern Ecuador will produce copper, gold and silver for a century – La Nación

The sixth copper mine in the world, Cascabel, has the endorsement to build infrastructure in northern Ecuador.

The towns of Lita, La Carolina and Santa Cecilia will be part of the exploitation of a Cascabel mining project for a century.

These communities in the Ibarra canton, in the province of Imbabura, are within the area of ​​influence of Bell.

Bell It is a mine, considered world class, because it has large amounts of copper, gold and silver deposits. Cascabel ranks sixth in the world for its copper reserves.

After signing the mine construction contract with the government of Ecuador, the company SolGold He explained on the night of this Monday, June 10, 2024, how this work will be developed.

Scott CaldwellCEO of SolGold and president of SolGold Ecuador, said that the exploitation of the mine is historic for Ecuador and the Australian mining company, owner of the concession of Bell.

Luis Mario Sánchez, vice president of SolGold Ecuadorconsiders having reached the signing of the mine exploitation contract as a historical milestone. Both officials highlight the generation of employment, development of northern Ecuador and income for the State.

The economic returns of Cascabel

Sánchez talks about the generation of 6.7 billion dollars in taxes for the State, during the 28 years of exploitation of the mine.

These resources are related to the payment of taxes, royalties, municipal taxes and other contributions, contemplated in tax and municipal laws. While the investment in the construction of the first and second stages of the mine will reach 4.2 billion dollars. In the initial phase alone it will be 1.5 billion dollars.

By: THE TRADE