Ecuador And Solgold Agree On $4.9bn Mining Project
Ecuador’s government and Australian mining company SolGold have reached an agreement to develop the underground Cascabel mine, involving an investment of $4.9 billion. Situated in Ecuador’s northern Imbabura province, the mine is expected to generate $35 billion in exports and contribute $8 billion in state taxes and royalties over its projected 26-year operational period. The Cascabel mine, potentially one of the world’s largest reserves for silver, gold, and copper, is set to start construction in 2025 and commence operations in 2030.
Source: https://www.mining.com/web/ecuador-solgold-seal-deal-to-launch-nearly-5bn-mining-project/
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