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    ADZN   CA00791E1025

ADVENTUS MINING CORPORATION

(ADZN)
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Ecuador expects 4 major mining projects to start up by 2025

09/17/2021 | 01:13pm EDT

QUITO, Sept 17 (Reuters) - Ecuador expects four major mining projects to start production by the end of President Guillermo Lasso's first term in 2025, as the conservative leader seeks to diversify the economy before oil exports, the natural resources ministry said on Friday.

Lasso, a former banker who took office in May, is seeking to attract private investment to boost the economy after a deep recession last year exacerbated the government's cash crunch. Ecuador has abundant mineral reserves, but has lagged Andean neighbors Peru and Chile in developing large-scale mines.

Three gold concessions to Canadian firms - Dundee Precious Metals' Loma Larga, Atico Mining Corp's La Plata, and Adventus Mining Corp's Curipamba - are in the advanced exploration stage and should begin production in 2023, the Energy and Non-Renewable Natural Resources Ministry said in its statement.

The Cascabel concession, controlled by Australia's SolGold PLC, is expected to begin copper production in 2025, the ministry added.

Many major mining projects in Ecuador have encountered opposition from local communities and some have struggled with occupations by informal miners https://www.reuters.com/article/us-ecuador-mining/ecuadors-crackdown-on-wildcatting-at-australian-moguls-mining-lease-faces-backlash-idUSKCN1UV154, which have slowed down their development.

The South American country's first large-scale copper mine, the Mirador project operated by a subsidiary of Chinese consortium CRCC-Tongguan, began production in mid-2019 https://www.reuters.com/article/us-ecuador-mining/ecuador-begins-large-scale-mining-at-mirador-copper-project-idUSKCN1UD36F. Its first major gold mine, Canadian miner Lundin Gold Inc's Fruta del Norte projects, started up in November https://www.reuters.com/article/us-ecuador-mining/canadas-lundin-gold-expects-output-of-up-to-220000-oz-from-ecuador-mine-in-2020-idUSKBN2482KA of that year.

Ecuador's authorities expect exports of mineral resources to reach $1.6 billion this year, up 74% from 2020. (Reporting by Alexandra Valencia Writing by Luc Cohen; Editing by David Gregorio)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ADVENTUS MINING CORPORATION 4.44% 0.94 Delayed Quote.0.00%
ATICO MINING CORPORATION -4.69% 0.61 Delayed Quote.10.91%
DUNDEE PRECIOUS METALS INC. 0.62% 8.14 Delayed Quote.-11.04%
LUNDIN GOLD INC. 2.55% 11.27 Delayed Quote.3.11%
SOLGOLD PLC 1.44% 28.1 Delayed Quote.-13.27%
All news about ADVENTUS MINING CORPORATION
10/06Altius Metals Provides 3rd Quarter 2021 Project Generation Update
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09/17Ecuador expects 4 major mining projects to start up by 2025
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09/16ADVENTUS MINING : Great geological potential in Ecuador
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08/27ADVENTUS MINING : Ecuador is a small country, but has gold in the ground
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08/09ADVENTUS MINING : IIROC Trading Resumption - ADZN
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07/14SALAZAR RESOURCES : Adventus and Salazar Announce Purchase of Construction Camp Facilities..
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Financials
Sales 2021 - - -
Net income 2021 - - -
Net Debt 2021 - - -
P/E ratio 2021 -31,3x
Yield 2021 -
Capitalization 123 M 99,6 M 99,5 M
Capi. / Sales 2021 -
Capi. / Sales 2022 -
Nbr of Employees -
Free-Float 62,2%
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Mean consensus BUY
Number of Analysts 5
Last Close Price 0,94 CAD
Average target price 1,88 CAD
Spread / Average Target 100%
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Managers and Directors
Christian Kargl-Simard President, Chief Executive Officer & Director
Frances Kwong CFO, Secretary & Vice President-Finance
Mark Wellings Chairman
Sally Louise Eyre Independent Director
Paul Bristol Sweeney Independent Non-Executive Director
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