LatinNews Daily - 13 June 2019

* Ecuador’s energy & natural resources minister, Carlos Pérez, and Jason Ward, the executive president of SolGold, an Australian mining company, have announced the results of the Preliminary Economic Assessment (PEA) of the 'Cascabel' second-generation mining project in Imbabura province which showed that the 'Alpala' deposit on the Cascabel site would become the world’s largest underground mine of silver, the third biggest underground gold mine, and sixth biggest copper mine. It was qualified as containing level 1 deposits, which are very rare. The mine will likely require US$26bn in investment and would operate from 49 to 66 years. In its first 25 years, it should produce annually 207,000 tonnes (t) of copper, 438,000 ounces of gold, and 1.4m ounces of silver.

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