Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Canada’s Cornerstone Resources has resumed exploration at the Bramaderos copper mining project in Ecuador after operations were halted for more than two months due to COVID-19.


The company will start drilling in September this year, Cornerstone announced in a statement on July 13. The Bramaderos project is located around 130km from Loja in southern Ecuador. The Bramaderos concession is 87.5pc owned by La Plata Minerales with Cornerstone holding the balance 12.5pc stake. 


The company did not disclose the amount of copper to be extracted but noted that this project also includes the exploration for lead, gold, and silver.


At the end of May, Ecuador resumed its mining operations after halted it for more than two months. The Ecuadorian government estimates mineral exports could reach between $642mn and $1.1bn this year and will restore 33,000 direct jobs and 100,000 indirect job positions.


The mining industry is one of the most important economic activities in Ecuador, which is estimated to represent about 4pc of GDP in 2021, according to government data.


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