Wenhua Finance, June 20 – According to foreign media reports, the Ecuadorian government is in the final stages of approving the expansion of the Mirador copper mine.
Deputy Mining Minister Diego Ocampo stated that his office is completing the review of the project’s documents, adding that he hopes to sign the expansion plan in about four weeks, or by August at the latest.
Authorities noted that the Ministry of Finance’s opinion on fiscal sustainability is being sought, but no issues are anticipated. Ocampo said, “The importance of the Mirador expansion is very evident.”
Located in the southeastern province of Zamora-Chinchipe, the Mirador copper mine has estimated reserves of 3.2 million tons and is one of only two operating copper mines in Ecuador. The other is Lundin Gold’s Fruta del Norte mine.
The expansion, also known as the Phase II project, aims to increase ore production at the Mirador South deposit from 60,000 tons per day (20 million tons per year) to 80,000 tons per day (26.2 million tons per year). It also includes the development of the Mirador North deposit, with an expected output of 60,000 tons per day and an estimated investment of $653 million.
After the expansion, the company expects the total production capacity of the Mirador Phase II project to be 140,000 tons per day (46.2 million tons per year), with 80,000 tons per day (26.4 million tons per year) from the South pit and 60,000 tons per day (19.8 million tons per year) from the North pit.
The Mirador’s expected operational life is 16.9 years, currently 20 years for the South pit and approximately 16 years for the North pit.
[Source- 上海有色网] 厄瓜多尔将在8月前批准Mirador铜矿扩建 https://news.smm.cn/news/102812391
