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Ecuador attracting mining interest, political risks weigh on Latin America outlook

By: Mariaan Webb     12th July 2018 The South American country of Ecuador is attracting interest among foreign mining companies, as a low-risk, high-reward market, where government remains supportive of mining, despite the February referendum restricting mining in protected areas. Market intelligence firm BMI, which publishes a... 

Lundin signs Fruta del Norte offtake, closes $350m debt facility

By: Mariaan Webb     9th July 2018 The Fruta del Norte gold project, in Ecuador, has been significantly derisked from a financial standpoint with the closing of a $350-million senior debt facility and the signing of an offtake agreement for about half of its production over the first eight years of operation. A syndicate of seven... 

Newcrest cuts FY forecast on Cadia tailings incident

By: Esmarie Swanepoel     26th April 2018 Gold miner Newcrest Mining has lowered its full-year production guidance on the back of the tailings breakthrough at its Cadia operations, in New South Wales. Gold production for the 2018 financial year, which ends in June, has been revised from between 2.4-million and 2.7-million ounces, to... 

Lundin Gold eyes growth after mine in Ecuador built

By: Reuters     5th March 2018 Lundin Gold has a hearty appetite for growth even as the Canadian miner focuses on building its first mine in Ecuador on time and budget, CEO Ron Hochstein said on Sunday. “We want to grow to be an at least one-million-ounce-a-year producer with three to four operations,” Hochstein said in an... 

Billionaire Lundin chases base-metal buy of up to $3bn

By: Bloomberg     1st March 2018 Sweden’s billionaire Lundin family is looking to spend as much as $3-billion on a new industrial-metal asset as prices rally, before turning its attention to scouring for a new gold project. Lundin Mining is on the prowl for a long-life zinc, nickel or copper asset and would shell out $1-billion... 

Lundin secures a $300m debt facility to ensure Fruta del Norte’s development

By: Samantha Herbst     23rd January 2018 Canadian project developer Lundin Gold has secured a $300-million debt facility through commitments from five senior lenders – namely ING Capital, Société Générale, Caterpillar Financial Services Corporation, the Bank of Nova Scotia and KfW IPEX-Bank – for the development and construction of the... 

Ecuador approves EIS for Lundin Gold’s Fruta del Norte project

By: Creamer Media Reporter      14th October 2016 The government of Ecuador has approved the environmental-impact statement (EIS) for TSX- and Nasdaq Stockholm-listed Lundin Gold’s Fruta del Norte project. “This is a significant accomplishment for the company and the development of Fruta del Norte. The next and final step in the environmental... 

Lundin to advance Fruta del Norte to development on positive feasibility

By: Henry Lazenby     6th June 2016 Canadian project developer Lundin Gold, a member of the Lundin Group of Companies, has published the results of a feasibility study for its attractive Fruta del Norte (FDN) gold/silver project, in Ecuador, stating that it would soon move into the development phase for what is one of the... 

Lundin completes negotiations with Ecuador on Fruta del Norte exploitation

By: Henry Lazenby     15th January 2016 Vancouver-based miner Lundin Gold has completed negotiation of an exploitation agreement for the Fruta del Norte project with the government of Ecuador, agreeing to pay an advance royalty of $65-million, with $25-million being due upon execution of the agreement. Ironed-out over the past six... 

Fortress Minerals to buy stalled Ecuador project for $240m from Kinross

By: Henry Lazenby     22nd October 2014 TSX-V-listed Fortress Minerals has agreed to buy the stalled Fruta del Norte (FDN) gold/silver project, in Ecuador, for $240-million in cash and scrip from TSX- and NYSE-listed Kinross Gold. Kinross last year booked a $720-million charge related to the discontinued FDN. Kinross shelved the... 

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