Copper miners are always looking for more ores and more copper mines to refine and return to the market for multiple uses. To meet the demand for copper, they go to the regions to find this valuable metal. These copper-rich deposit regions are found in the Andean Copper Belt which includes Columbia, Ecuador, Peru, and Northern Chile. Ecuador is looking forward to initiating four major mining projects by the end of 2025. It will pave the way for miners to invest in mining projects and benefit the nation.
Copper Reserves In Ecuador
As mentioned, Ecuador is a major producer of copper, gold, and neighboring other mineral-rich producers like Peru, Chile, and Columbia. With the increased 3.2 million tons of copper reserves being located in Ecuador, the exploration efforts are expanding quickly in Ecuador.
Miner’s experts have explained great potential in Ecuador due to its water resources and geology structure. One of its points is its location in the Andean copper belt, an area holding half of the world’s copper reserves. It is estimated that 3.2 million tons of copper reserves are present. That’s why many companies are likely to invest billions of dollars.
Canadian Companies Working In Ecuador
Ecuador has rich copper resources but it is lagging behind its neighboring Peru and Chile in the construction of large mines. But the contribution of Canadian exploration in Ecuador will help it to surpass its neighbors in the coming years. Therefore, Canadian exploration in Ecuador is playing an important role. Let’s thoroughly study a Canadian company and its potential discoveries in Ecuador.
● Solaris Resources
The explorations at mines like Warintza Ecuador may be slowed down due to the pandemic but the demand for copper hasn’t. The top-notch Canadian-based company, Solaris Resources is setting the bars high and on its way to filling the demand for copper, especially at Warintza. It is chalking out its mine development and copper exploration which will be accomplished in the coming decades. The infrastructure is the same as the Mirador mines owned by EcuaCorriente.
Moreover, Solaris Resources Inc. has reported new assay results from new drill holes at its project in Ecuador. So far, 22 of 31 holes drills have been reported. With more positive results, the additional drilling trend will continue and the stock could see it rise to $25 or higher. Its successful projects with the right approach have shown how mining companies can work with local communities without disputes.
This company is a subsidiary of nonferrous metals groups and has been a great test case for assessing the possible profitable exploration efforts in the region.
● Lundin Gold
Lundin Gold is in the valley and does not look forward to encroaching on copper miner’s territory. It is because their operations are conducted on the Fruta Del Norte gold mine in Ecuador. Despite a slight slowdown in the pandemic, it is still thriving since the company has got the support of the government. It proves the mining-friendly government in Ecuador.
Some other Canadian-based companies are Aurania Resources, Adventus Zinc, Cornerstone Capital Resources, Core Gold, Goldgroup Mining, INV Metals, Lucky Minerals, Lumina Gold, Luminex Resources, Lundin Gold, Salazar Resources, and Toachi Mining
Ecuador, the largest copper reserves house, has unique geology which can yield massive copper with only a few mining operations. Canadian companies are beginning to be involved in drilling at Warintza East.