Ecuador’s mineral exports increased by 21.4% from January to July

According to the BNAmericas website, in the first seven months, Ecuador's mineral product exports were US$1.95 billion, accounting for 68% of the forecast value for the whole year of 2023.

According to data from the country’s central bank, this figure increased by 21.4% compared with the same period last year.

Among them, the export value of gold (including gold bars and gold concentrate) was US$1.195 billion, and the export value of copper was US$752 million.

The main export destination countries are China, the United Arab Emirates and Switzerland.

Minerals are Ecuador's fourth largest export, after shrimp, oil and bananas.

Currently, there are only two large-scale operating mines in Ecuador, namely Ecuacorriente’s Mirador copper mine and Lundin Gold’s Fruta del Norte gold mine.

Both companies plan to increase production in Ecuador.

Ecuador has a number of projects that could come on stream in the coming years, but they face obstacles, particularly opposition from indigenous groups and anti-mining groups.