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LatinNews Daily - 12 March 2018

In brief: Ecuador

Ecuador: Ecuador’s President Lenín Moreno has overseen the signing of a new agreement between Ecuador’s state-owned mining firm Empresa Nacional Minera (Enami) and Chile’s state-owned copper mining firm Codelco to develop the Llurimagua mining project. Llurimagua is a copper and molybdenum mining project located in Ecuador’s northern Imbabura province, that Enami and Codelco have been looking to exploit since 2014. However, until now the development of the project has been stalled due to the local community’s opposition over environmental concerns. The new agreement was signed during Moreno’s visit to Chile’s capital, Santiago, to attend the 11 March inauguration ceremony of President Sebastián Piñera. Moreno hailed the signing of the new agreement noting that his government is determined to develop “responsible mining” in Ecuador, noting that recent studies suggest that Ecuador may hold 12%-15% of global copper reserves.

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