Exploration Of Copper In Ecuador
A limited number of companies contribute to protecting the environment when its safety is becoming more important to us. The profit gained from end products of mineral resources like copper often blinds the eye of most.
However, in Ecuador, a land with extensive deposits of copper, top Canadian copper mining companies continue to lead the way in the fight for environmentally compliant practices while fostering economic gain for the people and the nation.
How Is Copper Distributed In Ecuador?
Ecuador’s Copper Belt covers an area of approximately 2 million hectares. From the Imbabura-Carchi border in the north to its intersection with the Cordillera Oriental at Alto Tambo in the south, Ecuador’s Copper Belt stretches. The Copper Belt is a northwest-trending belt that separates three major units:
The Northern Massif – composed mainly of gneisses and granulites.
The Central Massif – composed mainly of tonalitic rocks, intruded into metamorphosed Paleoproterozoic volcanic and sedimentary rocks.
The Southern Massif – includes folded Mesozoic sedimentary and volcanic rocks.
A Long Walk Towards Exploration
Ecuador is endowed with a huge natural supply of copper. The recent attraction from foreign companies is attributed to the current government welcoming policies. The country has been runner-up to the neighboring country of Peru. One major boost came from the Mirador project, situated in southern Ecuador, which was awarded to EcuaCorriente. The 30 years will produce more than 90,000 tons of copper concentrates yearly.
Copper Exploration In Modern Ecuador
The value of copper continues to rise globally and Ecuador is not exempted. Many well-known copper processing companies have taken the initiative to boost their productivity and market value like Solaris Resources Inc. As mentioned, it incorporates best mining practices during exploration and recently got its new Warintza copper processing project. The project site is both historic and economically befitting.
With expansive exploration going on in the copper industry, Solaris Resources aims to grow in its operation, starting with the newly acquired Warintza project. The effect of this expansion will positively reflect on the employment rate in Ecuador. As the value of copper continues to rise in today’s current market, this Warintza project keeps getting larger with each set of drill results, with grades starting at or near-surface lending itself to establishing a robust mine plan with elevated grades benefitting the early years of mine life. Copper supplies have declined in recent years, boosting the demand and value of the mineral. The global manufacturing industry also has a growing need for copper, making copper drilling operations all the more valuable.
While that is great, it is imperative not to ignore the long-standing environmental concern. Gladly, that will not be an issue since the company fully supports the UN Global Compact, fully aware of its civil and environmental duties.
What The Future Holds In The Ecuadorian Copper Industry?
Copper; just like other mineral resources, can be a bone of contention between investors and regulators. Canadian copper mining companies that have built an enormous number of projects in the region are helping to lead this must-win opportunity. The government should continue building a business ecosystem lenient on genuine community-building companies while ensuring that illegal and environmentally negligent companies are fully dealt with.