Ecuador Mining Minister Javier Córdova recently announced that one of the world’s largest mining companies, BHP Billiton, will invest about $ 41 million in the country’s mining sector. This company is headquartered in Australia and is present in several countries in the region, such as in Brazil and Colombia.
“This is positive news, and it shows that the international financial markets trust Ecuador,” Córdova said. “They trust in tax conditions, stability and legal security, and so they decide to invest in Ecuadorian mining activity.”
BHP Billiton is a leading global mining and oil company that works in the discovery, acquisition, development and commercialization of natural resources. The company’s subsidiary in Ecuador will conduct initial mining exploration in two areas located in Imbabura over the next four years.
The secretary of state said that a favorable scenario has been created to attract new investment, such as the opening of the Mining Cadastre, which has allowed junior companies to return to the country and resume exploration. He also said the delivery of new mining concessions has led to companies investing more than $415 million in the exploration phase for the next four years. However, several environmental and indigenous groups still resist the mining industry in Ecuador.