ESG

Ecuador looking to reopen mining in weeks

Protocols being finanised

 Ecuador's deputy mining minister Fernando Benalcazar

Ecuador's deputy mining minister Fernando Benalcazar

Editor's Note: Mining Journal is making some of its most important coverage of the COVID-19 pandemic freely available to readers. For more coverage, please see our COVID-19 hub. To subscribe to Mining Journal, click here.

Benalcazar said the government had worked closely with counterparts in the government of Chile including mining minister Baldo Prokurica on creating protocols to allow mining to resume while maintaining health controls.

"We see it as viable to reopen mining in the coming weeks but considering health aspects and containment of virus. We have worked with minister Prokurica on a protocol, with those countries which have had a reduced impact on mining. No date has been defined yet but the goal is in the next weeks," he said.

Transportation is a key concern requiring resolution, particularly given many mining consumables and products are imported and exported through the Guayaquil, the Ecuadorean city hardest hit and reporting the highest number of deaths caused by the virus.

"Moving products from Guayaquil has created concerns in other provinces due to COVID-19. Non-negotiable transport protocols are vital," he said.

Communities and local leaders in some rural areas have created road-blocks in efforts to stop people carrying the virus from entering their areas.

Webinar panellists said mining would be a critical industry for Ecuador's economic recovery.

"Ecuador entered the pandemic already in recession, with a 1% GDP contraction in the fourth quarter of 2019. We see mining as a light for the economic reactivation of the country," said Rodrigo Izurieta of Tempus Resources.

Benalcazar said the government hoped to open a new concessions management system before the end of the year and attend to foreign investors seeking to obtain projects in the country. The government was working with the InterAmerican Development Bank (IDB) to fund the system.

 

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.