Just last year, Lumina Gold published the prefeasibility study for Cangrejos, located in the southwest of Ecuador. This study revealed an initial capex of $925 million, with an anticipated average gold equivalent production of 469,000 ounces over a 26-year mine life.
The proposed processing plant for the mine, which is also Ecuador’s largest primarily gold, involves a conventional copper-gold flotation concentrator and hybrid leach-carbon-in-leach circuit (L/CIL).
Ecuador is known for its abundant mineral reserves but has historically trailed behind its regional counterparts, such as Peru and Chile, in terms of large-scale mining development.
Notably, the Constitutional Court played a crucial role last year in elucidating rules governing prior consent for mining projects. According to mining chamber representative Maria Eulalia Silva, this clarification has expedited the permitting process.
