Ecuador signs $1.7 billion mining deal with China's CMOC Group
Geopolitics · Mining.com ·
Ecuador has signed a mining contract with the local subsidiary of China's CMOC Group for the Los Cangrejos mining project, putting the total expected investment at more than $1.7 billion. The project, located in El Oro province, is projected to generate $4.39 billion in revenue for the state, with Ecuador retaining a 50% share of the project's value through taxes, royalties and other fees.