Investment catalogue in strategic sectors

Transkript

REPÚBLICA DEL ECUADOR
Investment catalogue
in strategic sectors
2015 - 2017
Investing in Ecuador is investing for the future.
INVESTMENT CATALOGUE
IN STRATEGIC SECTORS 2015-2017
Rafael Poveda Bonilla
Minister Coordinator of Strategic Sectors
Pedro Merizalde
Minister of Non-Renewable Natural Resources
Esteban Albornoz
Minister of Electricity and Renewable Energy
Augusto Espín
Minister of Telecommunications and Information Society
Walter Solís
National Secretary for Water
Research and Production
Ministry Coordinator of Strategic Sectors
Editing and proofreading:
Andrea Zumárraga V.
Translation:
Sara Herrera C.
Graphic Design:
Diego Corrales D.
Printing:
Impresora Flores
2015
REPÚBLICA DEL ECUADOR
in strategic sectors
2015 - 2017
INVESTMENT CATALOGUE
IN STRATEGIC SECTORS 2015-2017
1. INDEX 2
2. MESSAGE OF RAFAEL POVEDA, MINISTER COORDINATOR
OF STRATEGIC SECTORS
3
3. EXECUTIVE SUMMARY
4
4. MINISTRY COORDINATOR OF STRATEGIC SECTORS
a. About us
b. Strategic Objectives
5
5. INVEST IN ECUADOR
a. Growing economy
b.Safe and transparent country.
c. Qualified human talent
d. Consolidated infrastructure networks
6
6. SECURITY FOR FOREIGN INVESTMENT 8
7. INCENTIVES FOR PUBLIC AND PRIVATE FOREIGN INVESTMENT
9
8. OPPORTUNITY TO FINANCE PROJECTS IN ECUADOR
10
9. MODALITIES OF INVESTMENT11
10.CONTACT
12
11. BASIC INDUSTRIES PROJECTS
13
12. MINING PROJECTS
25
13. PRIVATE MINING SECTOR PROJECTS
61
14. OIL SECTOR PROJECTS
74
15. BIOENERGETIC SECTOR PROJECTS
97
16. ELECTRIC PROJECTS
101
17. WATER SECTOR PROJECTS
116
18. TELECOMMUNICATION SECTOR PROJECTS
121
19. TECHNICAL DEFINITIONS123
20. ABBREVIATIONS AND ACRONYMS
124
21. SYMBOLS AND MEASURES125
2
in Strategic Sectors 2015-2017
MESSAGE OF THE MINISTER COORDINATOR
OF STRATEGIC SECTORS
The Government of the Republic of Ecuador has promoted public policies focused on the
responsible governance of our natural resources. With this judicious vision, the Ministry Coordinator of Strategic Sectors was created with the mission of directing the policies and actions
of the institutions that make up hydrocarbons, mining, electricity, telecommunications, water,
and environment sectors.
In these eight years, the government of President Rafael Correa Delgado has reached a significant growth in GDP of 4.3% compared to 3.15% of Latin American average. Based on the
effectiveness of public policies, investment in strategic projects and their implementation, we
have focused on transforming our energy matrix as a means to change the production matrix.
These investments are intended to generate a dynamic economy focused on knowledge and
innovation, diversified, inclusive and environmentally sustainable, producing 93% of energy
generated from renewable sources by 2017. This is low-cost pure energy that will benefit
production processes, enabling the good governance of our natural resources.
In our policy to change the production matrix, a fundamental pillar for the cross-sectional
development of the country is the creation of basic industries to enable that our economy
makes a quantitative leap, thus enhancing the use of our natural resources, adding value and
improving the competitiveness of Ecuador. This will generate in the short, medium and long
term, high potential for exports, imports substitution, and productive chaining.
With this background we present the updated edition of the 2015-2017 Investment Catalogue in Strategic Sectors, which includes investment opportunities, strategic alliances and
other contracting modalities totaling more than 37,000 million dollars.
This document could not have been prepared without the valuable cooperation of all the
Ministries and affiliated institutions that rule the Strategic Sectors and, especially, without the
passion and drive of our employees.
Based on proper strategic planning, efficient management of our resources, and decisive
commitment to transform the country, we invite you to join us in the near future. We are sure
that, together, we are making true the dream that we started in 2007.
Rafael Poveda Bonilla
Minister Coordinator
of Strategic Sectors
3
EXECUTIVE SUMMARY
The Investment Catalogue in Strategic Sectors 2015-2017 is an essential guide for national
and international investors and financial institutions about the opportunities for public and
private investments the country offers.
Projects are divided according to the sector they belong to: basic industries, mining, oil, bionergetic, electric, water and telecommunications.
In total, this cataloge includes 94 projects, both public and private, of which 83 are of the
Ecuadorian state and require an investment of 37,153 million dollars.
Nº. Projects
Mumber of projects
1
Basic industries
10
2Mining
8
3
Mining blocks for bidding
25
4
Private mining
11
5Oil
21
6Bioenergy
2
7Electric
13
8Water
3
9Telecommunications
1
TOTAL
58
Investment amount
(Millions of USD)
11,955
133
17,034
1,155
5,786
727
363
37,153
Prepared by: Ministry Coordinator of Strategic Sectors
4
MINISTRY COORDINATOR OF STRATEGIC SECTORS
ABOUT US
The Constitution of the Republic of Ecuador considers that energy in all its forms, telecommunications, non-renewable natural resources, hydrocarbons, biodiversity, genetic heritage,
the radio electric spectrum and water, among others, constitute the strategic resources of
the country.
We are the agency responsible for leading the policies and actions of the institutions that
make up the Strategic Sectors; Ministries of Non-Renewable Natural Resources, Electricity
and Renewable Energy, Telecommunications, Environment, and the National Secretariat for
Water in order foster, through the coordinated, structured and efficient implementation of
plans, programs and sectoral and intersectoral projects, and through international financing,
compliance with the National Plan for Development, improving the quality of life of citizens,
and fostering efficiency in the institutions.
STRATEGIC OBJECTIVES
1. BE SOVEREIGN, with self-sufficiency in electric generation, refining of derivatives, access
to Information and Communication Technologies, and management of water resources.
2. BE PRODUCTIVE, providing quality in electric and telecommunications services, in the
exploitation of hydrocarbons and minerals, and in the management of water resources.
3. BE INCLUSIVE, in the provision of public services accessible to all the population, and in
the access to resources exploitation to the revenue produced by them.
5
INVEST IN ECUADOR
GROWING ECONOMY
Ecuador has become one of the most dynamic economies in Latin America. Since 2007 has
maintained an average growth rate of 4.3%1 and currently is the country with the highest
public investment, which reaches 11% of the GDP2. Moreover, Ecuador is in the position 71
of the Global Competitiveness Index, the best position since 20073.
These successes have been achieved thanks to the political stability of the country that has
made it possible to make proper decisions during the Government of the Citizen’s Revolution.
Ecuadorian currency is the USD dollar, which has contributed to make our country attractive
for foreign investment. Inflation is of only one digit, lower than the Latin American average.
For more information, please visit: www.bce.fin.ec
SAFE AND TRANSPARENT COUNTRY
In order to strengthen a culture of honesty, ethics and quality in public administration,
Ecuador has enacted laws that promote transparency in all contracting processes, which
are carried out by the National Service for Public Acquisition (SERCOP in Spanish), through
agile, efficient and technologically updated procedures which facilitate the control of both
contracting entities and suppliers, and of the general public.
For more information, please visit: www.compraspublicas.gob.ec
Similarly, public companies can carry out contracting procedures through a special regime
determined by their specific line of business and, in case they have subscribed strategic
alliances, alliances or others documents of similar nature, such processes shall be determined
by the agreement.
1Source: Economic Commission for Latin America and the Caribbean, ECLAC, Preliminary Overview of the Economies of Latin America and the
Caribbean 2014, updated at December 2014.
2 Central Bank of Ecuador, Economic Commission for Latin America and the Caribbean, ECLAC, based on official figures. 2014 data for Ecuador
corresponds to the projection made by ECLAC, published in the Preliminary Overview of the Economies of Latin America and the Caribbean
(updated at December 2014).
3 Source: World Economic Forum. The Global Competitiveness Index Historical Dataset © 2005 - 2014.
6
QUALIFIED HUMAN TALENT
We are the country that has made the highest investment in post-secondary education in
the entire region, reaching 2.12% of the GDP4. From 2007 to 2014, young Ecuadorians are
studying in the best universities of the world thanks to the delivery of 10, 482 scholarships5.
To progress towards a social economy of knowledge, more than 1,000 million dollars will be
invested in new universities, including Yachay, thus enhancing the capacity for innovation and
research in the country.
The experience that Ecuadorian labor has on megaprojects of the strategic sectors makes it
highly productive and with great capacity learning. Salaries of Ecuadorian workers are competitive in relation to other countries. Ecuador has one of the lowest unemployment rates in
South America which is of about 4.5%. Ecuadorian population is 15,492,2646 and more than
44% of them belong to the economically active population affiliated to social security7, which
reflects social cohesion and access to public services that ensure a better quality of life.
For more information, please visit: www.ecuadorencifras.gob.ec
CONSOLIDATED INFRASTRUCTURE NETWORKS
Ecuador is strategically positioned in terms of infrastructure and logistics.
According to the Ministry of Transport and Public Works, Ecuador has a transportation infrastructure of 43,197 km of roads, this being the main means of communication in the country.
Thanks to major public investment, two new airports have been built and the existing ones
have been modernized.
The port system of Ecuador consists of seven public ports and ten private docks, specialized
in general cargo and oil. On the other hand, river transport is consolidated through several
navigable rivers, such as Guayas, Napo and Morona, some of which are part of to the Manta-Manaus inter-oceanic corridor.
In technological terms, Ecuador has installed 37,418 km of fiber optic8, representing an
annual growth rate of Internet access of 32.8%9, which is reflected in sophisticated telecommunications services.
4 Source: National Secretariat of Higher Education, Science, Technology and Innovation (SENESCYT), based on information from the Ministry of
Economy and Finance 2014, UIS-UNESCO and OECD 2011.
5 Source: Senescyt, 2007-2014. For 2014, the cutoff date is December 31st.
6 Source: National Institute of Statistics and Censuses
7 Source: National Institute of Statistics and Censuses, National Survey on Urban and Rural Employment, Unemployment and Underemployment,
conducted in December.
8 Source: Ministry of Telecommunications and Information Society
9 Source: Ministry of Telecommunications and Information Society
7
SECURITY FOR FOREIGN INVESTMENT
(Organic Code of Production)
• Equality: of conditions and protection for national and foreign investments and investors.
• Property: protection of investors’ property (prohibition of all forms of forfeiture).
• Rights: liberty of production, marketing, import and export of goods and services, subject
to the provisions of the Constitution, laws and regulations established by the current
legislation.
• Taxation: national and foreign investments are subject to the same tax regime.
• Resolution of conflict: investment contracts with foreign investors may include arbitration
clauses to solve disputes that arise between government and investors. The dispute may
be subject to international arbitration in accordance with the treaties signed by Ecuador.
• Investment contracts: provide stability on tax incentives and those stated in the Organic
Code of Production. They may include contractual commitments that are necessary for
the development of the new investment. Also, for investments above 100 million Dollars,
investors can benefit from tax stability incentives over the rates charged to income tax, tax
on funds sent abroad, and other national direct taxes.
• Other: Free transfer of profits abroad and investment (upon completion of tax obligations
and other responsibilities, as stated in legal regulations).
For more information, please visit: www.produccion.gob.ec
8
INCENTIVES FOR FOREIGN PUBLIC AND PRIVATE INVESTMENT
(Organic Code of Production)
• Complementary nature: Foreign investments shall have a role of direct complementarity
in Strategic sectors and those prioritized in the economy that require investment and
financing.
• Development and promotion of Strategic Sectors:
- Delegate to private initiatives the investment in Strategic Sectors in those cases established by the law for each sector.
-New projects of private companies for the generation of electricity, under an equal
treatment in terms of mechanisms and conditions of guarantee and/or payment in the
purchase of energy, than those applied to international transactions.
• Sectoral incentive: Total exemption of Income Tax for five years for new investments, as
of the operation phase in the sectors that contribute to the change of the energy matrix;
strategic substitution of imports, promotion of exports and rural development. Their
implementation in strategic sectors is limited to electric generation projects of renewable
energies.
- In the specific case of Basic Industries, Income Tax exemption is for 10 years as of the
operation of the industry.
For more information, please visit: www.produccion.gob.ec
9
OPPORTUNITY TO FINANCE PROJECTS IN ECUADOR
(Organic Code of Public Planning and Finances)
• Financial Agreement: Financing may establish provisions related to the participation of
national companies that provide the loans for the implementation of projects, under the
condition that funds are granted in profitable, advantageous or concessional terms for
Ecuador.
• Guidelines for bidding:
¿What do we observe when evaluating an offer?
- Companies with internationally recognized trajectory.
- An economic offer within market parameters.
- Quality of materials, equipment and service.
- Percentage of national aggregate.
If the offer includes financing:
- Firm offer for financing with an internationally recognized lending entity.
- Percentage of financing over the amount of investment.
- Term of the credit.
- Period of grace for payment of capital (at least equal to the period of time for the
implementation of the project).
- Interest rate (all in cost).
For more information, please visit: www.finanzas.gob.ec
10
INVESTMENT MODALITIES
Projects in this catalogue, in accordance with each sector and Government policies, may be
implemented through different modalities, namely:
PRIVATE
• DIRECT INVESTMENT: Refers to those modalities in which public or private institutions, different from Ecuadorian public entities, agree to develop in a direct manner,
under their sole responsibility and risk, a specific project. In this mechanism are included
alternatives such as concessions (electricity, mining, telecommunications), or contracts for
the provision of specific services (hydrocarbons), BOT.
• STRATEGIC ALLIANCES: Includes several associative modalities between public
or mixed Ecuadorian companies with national or foreign public or private companies for
the implementation of projects. This modality includes alternatives such as partnership
agreements, joint ventures, creation of subsidiaries, and other analogous forms. The
selection of partners or allies may be done on a direct basis for national or foreign public
companies and, in the case of national or foreign private companies, a special selection
process should be conducted.
PUBLIC
• CONTRACTING WITH INTERNATIONAL PUBLIC COMPANIES: Ecuadorian
laws permit direct contracting (commercial and for projects development) with public or
subsidiary companies of the International Community.
• BIDDINGS WITH FINANCING: Selection processes in which several interested
parties are invited to present their technical and economic offers to develop a project,
attaching also the financing offer duly supported with a letter of intent or other analogous
documents issued by internationally recognized financial institutions.
11
CONTACT
Ministry Coordinator of Strategic Sectors
[email protected]
Telephone: (593-2)2260670
12
BASIC INDUSTRIES
Basic industries projects
13
Basic industries
Basic industries are based on the responsible
exploitation of natural resources (raw materials) that are
transformed into intermediate products that constitute
the chaining source to generate growth and added
value in intermediate and final industries.
Basic industries will be located in development poles
that are leveraged through the optimization of logistics,
transport and services infrastructure, already existing
and/or being implemented. These industries have the
following incentives:
They constitute one of the pillars of the strategy to
change the production matrix. Their implementation
shall generate acceleration of the economic growth
and shall be of support to overcome the major social
challenges of the country.
• Stability through an investment contract
Ecuador is seeking strategic partners to participate
actively in the development of Ecuadorian industries.
This development will take place under an investment
modality that prioritizes foreign and/or local private
partners, with potential involvement of the Government.
Participation or ownership structures are open.
Regarding basic industries, two ways to participate in
these projects have been considered:
• Exemption of Income Tax (22%) for the first 10 years
of industry operation
• Special Development Zone, ZEDE (Zona Especial
de Desarrollo) with the following incentives:
· Exemption of Value Added Tax (12%) for the
import of goods for 20 years.
· Exemption of Customs Duties and Taxes for the
import of goods for 20 years.
· Exemption of Tax on Funds sent Abroad (5%) for
goods and services for 20 years.
1. Direct investment
2. Strategic public-private alliances
PROJECTS OF THE BASIC INDUSTRIES SECTOR
Nº. Project name
Location
Type
Investment amount
(millions of USD)
1
Linear alkyl benzene (LAB) petrochemical plant
Manabí
industrial
2
Polyethylene terephthalate (pet) petrochemical plant
Manabí
industrial
3
Flat steel plant - direct reduced iron (DRI)
Manabíindustrial
4
Flat steel plant - ferrous-titaniferous sand
Manabí
industrial
675
5
Repair shipyard
Guayas
industrial
180
6
Shipyard for Offshore Support Vessel (OSV)
Guayas
industrial
100
7
Large vessels shipyard
Guayas
industrial
700
8
Aluminum smelting plant
Manabí
industrial
2,500
9
Copper smelting and refining plant
10 Pulp plant
500
1,400
1,100
Manabí
industrial
2,000
Manabí
industrial
2,800
TOTAL
11 955
Source: Ministry Coordinator of Strategic Sectors
14
BASIC INDUSTRIES
Linear Alkyl Benzene (LAB)
petrochemical plant
benzene produced in the
“Refinería del Pacífico” refinery,
and imported paraffin. Production
shall supply local and regional
markets.
Construction of a petrochemical
plant for the production of
Linear Alkyl Benzene (LAB)
with capacity to produce 115
kton/year using locally sourced
C O L O M B I A
0
50
100 km
0º
Quito
MANTA
El Aromo
RDP
P A C I F I C
O C E A N
Guayaquil
P E R U
PROJECT STATUS:
COMPETITIVENESS:
ESTIMATED INVESTMENT:
✓Pre-feasibility study in process,
prepared by Fluor. It is expected
to be completed in March 2015
• The construction of the “Refinería
del Pacífico” (RDP) refinery, is strategic for the country.
• LAB petrochemistry enables to
chain products to the detergents
market.
• Growing demand in the region.
• Synergies thanks to the infrastructure developed for the Refinery
(roads access, basic services,
port, etc.).
500 MMUSD
✓Estimated operation start date:
2019.
MODALITY OF INVESTMENT:
• Direct Investment.
• Strategic public-privat alliances.
15
Polyethylene terephthalate (PET)
petrochemical plant
locally sourced xylene produced
in the “Refinería del Pacífico”
refinery, and imported ethylene
glycol. Production shall supply
local and regional markets.
Construction of three petrochemical plants for the production of Polyethylene Terephthalate (PET) with capacity to
produce 450 kton/year using
C O L O M B I A
0
50
100 km
0º
Quito
MANTA
El Aromo
RDP
P A C I F I C
O C E A N
Guayaquil
PROJECT STATUS:
COMPETITIVENESS:
✓Pre-feasibility study in process,
prepared by Fluor. It is expected
to be completed in March 2015.
• The construction of the “Refinería
del Pacífico” (RDP) refinery is strategic for the country.
• PET petrochemistry enables to
chain products to the plastic bottles market.
• Growing demand in the region.
• Synergies thanks to the infrastructure developed for the Refinery
(roads access, basic services,
port, etc.).
1,400 MMUSD
2019.
16
P E R U
• Strategic public-private alliances.
Flat steel plant – Direct Reduced
Iron (DRI)
Construction of a plant for the
production of flat steel with
capacity to produce 1,000
kton/year using natural gas
and imported iron ore. Market
focuses on covering the local
demand (substituting imports
BASIC INDUSTRIES
of hot rolled coils - HRC - and
scrap), and the demand of the
regional markets of Colombia,
Peru and Chile. Other potential
uses are in associated industries
of cold rolled coils - CRC - and
galvanized coils.
C O L O M B I A
0
50
100 km
0º
P A C I F I C
O C E A N
Quito
P E R U
GUAYAS
Shipyard
Iron
Posorja
PROJECT STATUS:
COMPETITIVENESS:
✓Pre-feasibility study completed by
Idom on January 2015.
• Domestic demand justifies local
production.
• Neighboring countries are net importers of flat steel.
• Competitive cost to replace imports of HRC and scrap.
• Potentiality of natural gas at competitive prices.
1,100 MMUSD
2018.
17
Flat steel plant - ferrous - titaniferous sand
Construction of a plant for the
production of flat steel with
capacity to produce 500 kton/
year using locally sourced
ferrous-titaniferous sand and
imported coal. The plant will be
focused on the substitution of
hot rolled coil (HRC) imports.
C O L O M B I A
0
50
100 km
0º
P A C I F I C
O C E A N
Quito
P E R U
GUAYAS
Shipyard
Flat steel
Posorja
PROJECT STATUS:
COMPETITIVENESS:
✓
Sand characterization study in
process. It is expected to be completed in February 2015.
• Domestic demand justifies local
production.
• Neighboring countries are net importers of flat steel.
• Competitive cost to replace HRC
imports.
• Projects for sand mining in Tola
Norte and Mompiche under
evaluation.
• Export potential for titanium and
other byproducts to generate additional income.
675 MMUSD
✓Pre-feasibility study should start
with the Hatch Company in March
2015.
2019.
18
Repair shipyard
Construction of a repair service
shipyard with capacity for
80 repairs/year. This project
leverages on the relocation of
the Astinave shipyard, which
is property of the Ecuadorian
government. Market focuses on
BASIC INDUSTRIES
covering the local demand and
potentially serving other ships
from the region. The shipyard will
have additional potential to build
2 vessels/year of up to 120m
length (e.g. fishing boats).
C O L O M B I A
0
50
100 km
0º
P A C I F I C
O C E A N
Quito
P E R U
GUAYAS
Repair
shipyard
Posorja
PROJECT STATUS:
COMPETITIVENESS:
ISDEFE on January 2015.
• Shipyards industry is a priority for
the government.
• Captive market for the repair of
Ecuadorian flag vessels (the average age of vessels is high, so frequent repairs are required).
• Strategic location on the Pacific
coast to absorb the demand of
ships heading to the Panama
Canal.
• Potential for vessels construction
to replace the local fleet (e.g. fishing vessels).
180 MMUSD
January 2017.
(Including repairs and construction)
19
Shipyard for Offshore Support Vessels (OSV)
Construction of a shipyard for the
construction of vessels of OSV
class (e.g. PSVs, light platforms),
with capacity of 2 units a year.
Initial focus is on the local market
of offshore gas exploration with
the potential of future exports to
the regional market.
C O L O M B I A
0
50
100 km
0º
P A C I F I C
O C E A N
Quito
P E R U
GUAYAS
Shipyard
Posorja
PROJECT STATUS:
COMPETITIVENESS:
• Shipbuilding industry is a priority
for the government.
• Estimated demand of 16 PSVs
and 5-8 light platforms over the
next 8 years for the industry of offshore natural gas exploration.
• Competitive labor costs.
100 MMUSD
July 2017.
20
Large vessels shipyard
Construction of a shipyard for
the production of large vessels
(e.g. Aframax type tankers), with
capacity to produce 4 units/year.
Initial focus is on the local market
BASIC INDUSTRIES
of tankers for crude oil export
with potential for future export
and production of other vessels
such as bulk carriers.
C O L O M B I A
0
50
100 km
0º
P A C I F I C
O C E A N
Quito
P E R U
GUAYAS
Shipyard
Posorja
PROJECT STATUS:
COMPETITIVENESS:
• Shipbuilding industry is a priority
for the government.
• Captive market for Ecuadorian
vessels:
• Export of crude oil is a priority for
the country.
• Potential demand for 20 tankers in
the next 6 years.
• Potential Ecuadorian demand to
build bulk carriers.
• Competitive labor costs.
700 MMUSD
2018.
21
Aluminum smelting plant
Construction of a plant for
aluminum smelting with capacity
to produce 500 kton/year of
primary aluminum using imported
alumina. Production will be
primarily focused on exports,
especially to the region (South
America).
C O L O M B I A
0
50
100 km
0º
P A C I F I C
O C E A N
Quito
P E R U
GUAYAS
Shipyard
Aluminum
Posorja
PROJECT STATUS:
COMPETITIVENESS:
✓Pre-feasibility study is being prepared by Hatch. It is expected to
be completed in May 2015.
• Special rate for electricity generation at low cost.
• South America will become a net
importer of primary aluminum in
the coming years.
• Privileged location which favors
low-cost transport: alumina may
be imported from Brazil/Jamaica,
and exports will be focused on
South America.
• Potential bilateral agreements between Ecuador and its target market (South America).
2,500 MMUSD
2021.
22
Copper smelting and refining plant
Construction of a plant for
copper smelting and refining
with production capacity of ~280
kton/year of copper cathodes
BASIC INDUSTRIES
using ~1000 kton of imported
and/or local concentrate. Focus
is on Asiatic markets, especially
China.
C O L O M B I A
0
50
100 km
0º
P A C I F I C
O C E A N
Quito
P E R U
GUAYAS
Shipyard
Copper
Posorja
PROJECT STATUS:
COMPETITIVENESS:
✓Pre-feasibility study carried out
by SNC-Lavalin and completed in
December 2014.
• Privileged location to export refined copper to China and import
concentrated copper from Chile
and/or Peru.
• Future integration with locally produced concentrated copper.
• Potential to increase revenues by
exporting sulfuric acid byproduct
to Chile at competitive prices.
• Competitiveness factors at regional and global scale (competitive
electricity and labor costs).
2,000 MMUSD
✓Development of feasibility study
should begin in April 2015.
2018 for smelting, 2019 for
refining.
23
Pulp plant
origin and imported chemicals.
The target market is pulp export
to high-demand markets (especially China and Europe).
Construction of a mixed plant
for the production of BHKP and
BSKP with capacity to produce
1,000 kton/year using wood pulp
(eucalyptus and pine) of local
Esmeraldas
0
50
Tulcán
C O L O M B I A
100 km
Ibarra
0º
Santo
Domingo
Latacunga
Portoviejo
Francisco
de Orellana
Tena
Ambato
Guaranda
O C E A N
P A C I F I C
Nueva Loja
Quito
Babahoyo
Riobamba
Puyo
Guayaquil
Santa Elena
Macas
Azogues
Cuenca
P E R U
Machala
Loja
PROJECT STATUS:
COMPETITIVENESS:
✓The study of the Indicator of
Annual Average Growth and availability of land is in process and is
being carried out by STCP. It is
expected to be completed in July
2015.
• Climate and geography are suitable for planting eucalyptus and
pine.
• Availability of land suitable for
forests.
• Strategic location for exporting to
various regions, mainly China.
• Ecuador can achieve very quickly the automation of crops to increase productivity.
• Competitive raw material costs.
• Low internal logistic costs.
• High potential for integration with
the development of the paper industry to replace imports.
2,800 MMUSD
✓Pre-feasibility study should start in
August 2015.
2024.
24
Zamora
MINING
Mining sector
projects
Mining sector
Ecuador is a country with great geological wealth
throughout its territory. For many years, dozens of
leading companies have performed research activities
in Ecuador and their explorations have discovered
large gold and copper mining projects in the provinces
of Azuay, Zamora Chinchipe, Morona Santiago and
Imbabura, among others.
begin operations, and others are already in advanced
stages of exploration. This catalogue includes the
ENAMI projects that need investments through public-private alliances.
Ecuador has granted mining concessions to private
companies whose projects are under prospection,
exploration, and some close to come into production.
In this catalogue are include projects of the private
sector that need investments in order to be developed.
1.Direct investment
2.Strategic public-private alliances
Also, the decision to carry conduct biddings of new
mining areas has been taken in order to delegate,
through concession, these areas to companies that
ensure the use of the best exploration and exploitation
practices of areas that have been considered of
interest due to their important geological potential.
Auction processes can be performed by request of the
government or by request of an interested party, which
is why financial bids shall not be rated, only the bidder
with regard to their experience and financial capacity,
as well as the technical and environmental proposal
they submit.
•
•
•
•
•
•
In 2010 the Ecuadorian Government created the
Empresa Nacional Minera, ENAMI (National Mining
Company) that has projects in prospection and exploration stages. Most of them have all legal permits to
Two main ways to participate in these projects have
been considered:
Mining projects in Ecuador have several competitive
advantages for potential investors:
High mineral recovery rates (very good mining laws)
Low stripping ratio (proximity of mineral)
Access to water
Sufficient provision of electricity at attractive costs
Modern infrastructure in roads, ports and airports
Monetary stability
Besides the natural advantages of projects, the Ecuadorian State accompanies mining development in a
responsible manner, ensuring productive development
and providing incentives:
• Tax stability and incentives
• Accelerated depreciation of the machinery used
• Clear and established rules based on Ecuadorian
legislation
MINING SECTOR PROJECTS
Nº. Project name
Location
Stage
Mineral
(province)
Investment amount
(millions of USD)
1
Llurimagua
Imbabura
Advanced exploration
Copper-molybdenum
2
Tola Norte
Esmeraldas
Ferrous-titaniferous sand
3
Nanguipa
Zamora Chinchipe
Initial exploration
Gold and copper
19
4
El Torneado
Bolívar
Copper and molybdenum
18
5
La Bonita
Sucumbíos
Initial exploration
Gold and copper
14
6
Telimbela
Bolívar
Copper and molybdenum
14
7
Pacto
Pichincha
Initial exploration
Gold and polymetals
7
8
Sangola
Zamora Chinchipe
Initial exploration
Gold and copper
6
TOTAL
29
26
133
Source: ENAMI EP
26
Llurimagua mining project
Location: Province of Imbabura
MINING
Advanced exploration of copper
and molybdenum within an area
of 4,839 Ha.
COLOMBIA
0º
PACIFIC
OCEAN
QUITO
Guayaquil
CARCHI
P E R U
0
50
ESMERALDAS
100 km
IMBABURA
COTACACHI
Ibarra
Llurimagua
PICHINCHA
PROJECT STATUS:
✓Environmental license.
29 MMUSD
✓First drilling phase 15,000 m.
✓ The drilling campaign is scheduled
to start on March 15th, 2015.
POTENTIAL:
SUCUMBIOS
GEOLOGICAL MODEL:
• Direct investment.
• Inferred resource: 318 million tons
of minerals.
• Copper grade: 0.7%
• Molybdenum grade: 0.026%
• Project lifetime: 30 years.
(Magnified image in enclosed CD)
27
Tola Norte mining project
Advanced exploration of Ferro-titaniferous sand (beach sand),
within an area of 4,648 Ha.
Location: Province of Esmeraldas
VALDEZ (LIMONES)
PACIFIC OCEAN
TOLA NORTE
LA TOLA
TAMBILLO
LAS PEÑAS
BORBÓN
COLOMBIA
PA C I F I C O C E A N
CARCHI
COLOMBIA
Esmeraldas
0º
QUITO
PACIFIC
OCEAN
ESMERALDAS
MANABÍ
IMBABURA
Guayaquil
P E R U
0
50
100 km
PROJECT STATUS:
POTENTIAL:
✓Environmental license.
• Geological potential: 70 MMT
(VHM: South American Iron and
Steel. SAIS 2005-2010).
✓First drilling phase (completed).
✓
Analysis and interpretation of
samples obtained for the determination of inferred resources
(February 2015).
• Project lifetime: 35 years.
✓Second drilling phase scheduled
(April 2015).
26 MMUSD
✓
Third drilling phase scheduled
(2016).
28
PICHINCHA
SANTO DOMINGO
DE LOS TSÁCHILAS
GEOLOGICAL MODEL:
• Strategic public-private
alliances.
Nanguipa mining project
copper within an area of
5,066 Ha.
Initial exploration until identifying
resources that make it feasible
the conduction of a pre-feasibility
mining study in order to quantify
probable reserves of gold and
MINING
Location: Province of Zamora
Chinchipe
A Z U AY
COLOMBIA
MORONA SANTIAGO
0º
PACIFIC
OCEAN
QUITO
ZAMORA CHINCHIPE
Guayaquil
P E R U
0
50
100 km
Zamora
LOJA
CENTINELA DEL CÓNDOR
NANGUIPA1
ZAMORA
NANGUIPA
NANGARITZA
PERU
PROJECT STATUS:
✓Initial exploration plan (under
development).
19 MMUSD
✓Environmental license (being
processed).
POTENTIAL:
GEOLOGICAL MODEL:
alliances.
• Geological potential:
300 MMT with 0.5% copper grade
(CODELCO 2012)
29
El Torneado mining project
and molybdenum mineral
resources within an area of
approximately 17,878 Ha.
Location: Province of Bolívar
C O T O PA X I
TUNGURAHUA
LOS RIOS
GUARANDA
Guaranda
COLOMBIA
CALUMA
0º
QUITO
San Antonio
PACIFIC
OCEAN
CHIMBO
Cerro Gualazay
Grande
Guayaquil
El Cristal Chicaloma
P E R U
0
50
CHIMBORAZO
100 km
G U AYA S
BOLIVAR
PROJECT STATUS:
GEOLOGICAL MODEL:
✓Environmental license granted
✓Identification of three zones with
high
mineralization
potential
and high values of copper and
molybdenum
✓Implementation of the first drilling
stage of 500 m divided into 3 drillings in anomalies for massive sulphide sulphide.
POTENTIAL:
• Inferred resources: 200 MMT
• Project lifetime: 25 to 30 years
18 MMUSD
• Direct investment
alliances
30
La Bonita mining project
Initial exploration of gold and
copper to determine the mineral
resources existing within an area
of 13,610 Ha.
Location: Province of Sucumbíos
0º
QUITO
PACIFIC
OCEAN
La Bonita
Guayaquil
SUCUMBIOS
MINING
COLOMBIA
COLOMBIA
Rosa Florida
P E R U
0
50
100 km
La Chispa
CASCALES
CARCHI
IMBABURA
COLOMBIA
SUCUMBIOS
PICHINCHA
Nueva Loja
SUCUMBIOS
NAPO
ORELLANA
PERU
PROJECT STATUS:
processed)
✓Geological, structural and hydrothermal alterations mapping
Geochemistry of stream sedi✓
ments, rocks and soils.ils
Airborne geophysical
✓
(scheduled)
studies
POTENTIAL:
• Resources (under determination
process): geochemistry of stream
sediments indicates presence of
coarse gold panning
• Possible continuation of tjhe porphyry copper system of Mocoa
Colombia
• Large areas of hydrothermal alteration (12 km2)
GEOLOGICAL MODEL:
14 MMUSD
alliances
31
Telimbela mining project
and molybdenum to determine
mineral resources existing within
an area of 4,033 Ha.
Location: Province of Bolívar
C O T O PA X I
TUNGURAHUA
LOS RIOS
GUARANDA
Guaranda
CALUMA
Telimbela
COLOMBIA
CHIMBO
0º
PACIFIC
OCEAN
QUITO
B O L I VA R
Guayaquil
P E R U
0
50
G U AYA S
100 km
PROJECT STATUS:
GEOLOGICAL MODEL:
✓Environmental license granted
POTENTIAL:
✓Soil samples reflect abnormalities
in:
• Geological potential: 250 MTM
• Close to South Curimpamba project, with 2.33 & Cu and 2.99 g/t
gold.
• Project lifetime: 23 years
✓ North Telimbela: 0.4 g/t Au, 5.8 g/t
Ag and 1.65% Cu. (400 x 1200m)
✓
Center Telimbela: 0.2 g/t Au;
1.6 g/t Ag and 1.60% Cu (500 x
300m)
✓South Telimbela: 0.05% Cu
15 MMUSD.
✓4000n drilling in Ashuaca sector
alliances.
32
CHIMBORAZO
Pacto mining project
polymetals to determine the
mineral resources that exist
within an area of 4,645 Ha.
Location: Province of Pichincha
ESMERALDAS
MINING
IMBABURA
SUCUMBIOS
DISTRICT
METROPOLITAN
QUITO
Quito
SANTO DOMINGO DE LOS
TSÁCHILAS
NAPO
PICHINCHA
CANTÓN QUITO
GUALEA
COLOMBIA
0º
C O T O PA X I
QUITO
URCUTAMBO
COD: 403009
2351 Ha
PACIFIC
OCEAN
PACTO
Guayaquil
INGAPI
COD: 403008
2394 Ha
P E R U
0
50
100 km
PROJECT STATUS:
POTENTIAL:
✓Environmental license
(being processed)
• Geological Potential:
250,000 ounces of gold
✓Determination of three areas of
exploration interest within the
Urcutambo concession
✓Development of drilling plan of
1,800m in “El Viudo” sector.
GEOLOGICAL MODEL:
7 MMUSD
alliances.
33
Sangola mining project
copper to determine mineral
resources that exist within an
area of 6,507 hectares.
A Z U AY
Location: Province of Zamora
Chinchipe
MORONA SANTIAGO
ZAMORA
CHINCHIPE
PERU
Zamora
LOJA
COLOMBIA
0º
PACIFIC
OCEAN
QUITO
Guayaquil
P E R U
Palma
Chorocoto
PROJECT STATUS:
✓Initial exploration plan (being
developed).
50
100 km
Karina 6
Rebeca
• Located in the geological strip
of Fruta del Norte and Mirador
projects.
processed).
POTENTIAL:
• 3 main veins with a confirmed and
sampled area with a longitude of
250m to 300m, and with tenors
ranging from 4.7 to 102g/t Au.
• Polymetallic veined deposit of low
sulphidationt.
34
0
GEOLOGICAL MODEL:
6 MMUSD.
alliances.
Mining blocks for bidding
Province
Esmeraldas
Location
Reference coordinate
1
1 A
23.724
2
1 B
24.278
Esmeraldas
Lat: 0.989 N; Long: 78.730 W Gold
3
1 C
17.551
Esmeraldas
Lat: 0.900 N; Long: 78.860 W Gold
4
2 A
6.612
Carchi
Lat: 0.807 N; Long: 78.244 W Gold and manganese
5
2 B
8.853
Imbabura
Lat: 0.679 N; Long: 78.346 W Gold
6
3 A
20.400
Esmeraldas
Lat: 0.460 N; Long: 79.050 W Platinum, cobalt, manganese and tellurium
7
3 B
4.500
Imbabura
Lat: 0.330 N; Long: 78.760 W Gold
8
4
Lat: 0.301 S; Long: 78.900 W Gold, silver, copper, lead and zinc
3.300
Santo Domingo
de los Tsachilas
9
5
Lat: 1.073 N; Long: 78.63 W
Potential (occurrences)
Gold
33.500
Napo
Lat: 0.896 S; Long: 77.80 W
Gold
10 6 A
16.000
Cotopaxi
Lat: 1.063 S; Long: 79.19 W
Gold and copper
11 6 B
39.500
Bolívar
Lat: 1.312 S; Long: 79.08 W
Gold and copper
12 6 C
5.304
Los Ríos
Lat: 1.580 S; Long: 79.29 W
Gold and copper
13 7
37.100
Chimborazo
Lat: 1.940 S; Long: 78.49 W
Zinc, copper and silver
14 8
10.890
Cañar
Lat: 2.540 S; Long: 79.12 W
Gold, silver and zinc
15 9
28.175
Morona Santiago
Lat: 3.240 S; Long: 78.83 W
Gold, magnetite and pyrite
and Azuay
16 10 A
9.562
El Oro
Lat: 3.37 S; Long: 79.540 W
Gold, zinc, cobalt and tellurium
17 10 B
7.310
El Oro
Lat: 3.54 S; Long: 79.620 W
Gold and polymetals18
11
A
MINING
Nº.Name of Area
the block (Ha)
9.350
Zamora Chinchipe Lat: 3.84 S; Long: 78.830 W
Gold and silver
19 11 B
5.000
Gold and silver
20 12 A
31.160
Loja
Lat: 3.92 S; Long: 79.780 W
Gold, lead and antimony
21 12 B
12.680
Loja
Lat: 4.17 S; Long: 79.790 W
Gold, silver, lead, zinc and molybdenum
22 12 C
5.000
Loja
Lat: 4.28 S; Long: 79.510 W
23 13 A
9.850
Gold, copper, lead and zinc
24 13 B
22.425
Gold
25 13 C
39.777
Molybdenum, thorium, barium,
Gold, copper and lead
uranium, cerium, tungsten,
niobium, tin and lead
Source: Instituto Nacional de Investigación Geológico Minero Metalúrgico, INIGEMM (National Institute for Geological, Mineral and Metallurgical Research)
35
Block 1A
This block is located north of
Ecuador in the foothills of the
Toisán range which is part of the
Cordillera Occidental Range.
Altitude varies from 50 to 500
meters above sea level. The area
of the block is 23,724 Ha.
Location:
Province of
Esmeraldas
Coordinates:
Lat: 1.073 N
Reference GCS: Long: 78.63 W
COLOMBIA
SAN LORENZO
Block 1A
CARCHI
Esmeraldas
ESMERALDAS
IMBABURA
MANABÍ
COLOMBIA
0º
QUITO
PACIFIC
OCEAN
PICHINCHA
Guayaquil
P E R U
0
POTENTIAL:
BLOCK GEOLOGY:
Occurrences of gold in alluvial deposits and Quaternary age terraces.
The block is located on rocky outcrops that are part of a forearc sedimentary basin of the Tertiary age,
corresponding to the Borbon and
Canoa formations, covered by San
Tadeo formation and estuarine marine clays.
50
100 km
GEOLOGICAL MODEL:
36
Block 1B
Location:
Province of
Esmeraldas
Coordinates:
Lat: 0.989 N
MINING
COLOMBIA
SAN LORENZO
CARCHI
Block 1B
Esmeraldas
ESMERALDAS
IMBABURA
MANABÍ
COLOMBIA
0º
QUITO
PACIFIC
OCEAN
PICHINCHA
Guayaquil
P E R U
0
POTENTIAL:
BLOCK GEOLOGY:
In the block outcrop sedimentary
rocks of the tertiary basin corresponding to Zapallo, Playa Rica,
Angostura, Onzole and Borbón formations; estuarine marine clays cover the area.
50
100 km
GEOLOGICAL MODEL:
37
Block 1C
Location:
Province of
Esmeraldas
Coordinates:
Lat: 0.90 N
COLOMBIA
SAN LORENZO
CARCHI
Block 1C
Esmeraldas
ELOY ALFARO
ESMERALDAS
IMBABURA
MANABÍ
COLOMBIA
0º
QUITO
PACIFIC
OCEAN
PICHINCHA
Guayaquil
P E R U
0
POTENTIAL:
BLOCK GEOLOGY:
In the block outcrop sedimentary
rocks of the tertiary basin corresponding to Zapallo, Playa Rica,
Angostura, Onzole and Borbón formations; estuarine marine clays cover the area.
50
100 km
GEOLOGICAL MODEL:
38
Block 2A
Location:
Coordinates:
Reference GCS:
Province of Carchi
Lat: 0.807 N
Long: 78.244 W
MINING
ESMERALDAS
COLOMBIA
MIRA
Tulcán
Block 2A
CARCHI
COLOMBIA
0º
QUITO
PACIFIC
OCEAN
SUCUMBIOS
Guayaquil
PICHINCHA
P E R U
0
50
100 km
POTENTIAL:
BLOCK GEOLOGY:
GEOLOGICAL MODEL:
Traces of gold and manganese
are found in samples of active
river sediments. This block is adjacent to Cascabel project of the
CORNERSTONE
SOLDGOLD
Company.
Bedrock is made up, to the west, by
volcanic rocks that are part of an islands arc of tholeiitic affinity which are
included in the Naranjal Unit of the
Cretaceous age and east by sedimentary rocks of the Cretaceous age
that are part of the Pilatón unit. To the
west, bedrock is in tectonic contact
with Eocene sedimentary rocks of El
Laurel unit. Sequences are covered
by continental volcanic rocks of calcalkaline affinity of the San Juan de
Lachas unit of the Oligocene.
39
Block 2B
Altitude is 500 meters above sea
level. The area of the block is
8,853 Ha.
Location:
Province of
Imbabura
Coordinates:
Lat: 0.679 N
COLOMBIA
0º
QUITO
PACIFIC
OCEAN
IBARRA
Guayaquil
CARCHI
Block 2B
P E R U
ESMERALDAS
0
50
100 km
SAN MIGUEL DE
URCUQUÍ
IMBABURA
Ibarra
PICHINCHA
SUCUMBIOS
POTENTIAL:
BLOCK GEOLOGY:
Traces of gold are found in samples
of active river sediments. This block
is adjacent to Cascabel project of
the CORNERSTONE – SOLDGOLD
Company.
Bedrock is made up, to the west,
by volcanic rocks that are part of an
islands arc of tholeiitic affinity which
are included in the Naranjal Unit of
the Cretaceous age and east by sedimentary rocks of the Cretaceous
age that are part of Pilatón unit.
Sequences are overlain by Eocene
sedimentary rocks of El Tortugo
and El Laurel units to the west and
to the east, respectively. Sequences
are covered by continental volcanic rocks of calc-alkaline affinity of
the San Juan de Lachas unit of the
Oligocene. Pluton of La Merced
de Buenos Aires, of granodiorite
and diorite composition from the
Miocene, intrudes the pre-Oligocene
sequences.
40
GEOLOGICAL MODEL:
Block 3A
This block is located in the foothills
of the Cordillera Occidental Range,
with heights not higher than 800
Location:
Province of
Esmeraldas
Coordinates:
Lat: 0.46 N
MINING
COLOMBIA
CARCHI
Esmeraldas
ELOY ALFARO
ESMERALDAS
MANABÍ
IMBABURA
Block 3A
QUININDÉ
COLOMBIA
0º
PACIFIC
OCEAN
QUITO
Guayaquil
P E R U
0
POTENTIAL:
BLOCK GEOLOGY:
Traces of platinum, cobalt, manganese and tellurium are found in samples of active river sediments. This
block is located east of Llurimagua
project of the ENAMI and north of El
Corazón project.
The region bedrock is made up by
mafic and ultramafic rocks included
in the Naranjal Unit which is part of
the Caribe plateau, overlain by marine
sedimentary rocks of the Colorado
Unit and volcanoclastic rocks of Río
Desgracia Unit. A gabbroic intrusive
is placed in the cretaceous rocks.
The area is crossed by the Canandé
fault.
50
100 km
GEOLOGICAL MODEL:
41
Block 3B
This block is located in the
foothills of the Cordillera Occidental Range at an average
altitude of 200 meters above sea
level. The area of the block is
4,500 Ha.
Location:
Province of
Imbabura
Coordinates:
Lat: 0.33 S
COLOMBIA
0º
PACIFIC
OCEAN
QUITO
Guayaquil
P E R U
0
50
100 km
ESMERALDAS
CARCHI
IMBABURA
Block 3B
Ibarra
COTACACHI
PICHINCHA
SUCUMBIOS
POTENTIAL:
BLOCK GEOLOGY:
Traces of gold are found in samples
of active river sediments in the drains
located at the southwest of the
block. The block is located between
El Corazón (Au) and Llurimagua (CuMo) mining projects.
The region bedrock is made up by
mafic and ultramafic rocks included
in the Naranjal Unit, which is part of
the Caribe plateau, overlain by marine sedimentary rocks of El Tortugo
Unit from the Eocene. In the east
area, Apuela batholith rocks intrude
the pre-Oligocene sequences. The
area is crossed by the Toachi fault.
42
GEOLOGICAL MODEL:
Block 4
This block is located in the Cordillera Occidental Range at an
average altitude of 1,500 meters
above sea level. The area of the
block is 3,300 Ha.
MINING
ESMERALDAS
Location:
Province of Santo
Domingo de los
Tsáchilas
Coordinates:
Lat: 0.301 S
PICHINCHA
Block 4
Santo Domingo
ALLURIQUÍN
SANTO DOMINGO
DE LOS TSÁCHILAS
MANABÍ
COLOMBIA
0º
C O T O PA X I
PACIFIC
OCEAN
QUITO
Guayaquil
P E R U
0
50
100 km
LOS RIOS
POTENTIAL:
BLOCK GEOLOGY:
Two traces of gold, silver, copper,
lead and zinc have been found in La
Palma and Dos Ríos areas. The block
is located northeast of La Plata mine
(VMS), which is currently inactive.
The bedrock is constituted by marine sedimentary rocks included
in Malaute and Pilatón units of the
Cretaceous age. The western part of
the area has volcanic rocks which are
part of an arc of islands of tholeiitic
affinity included in the Macuchi Unit.
Eocene intrusive bodies elongated
with north-south direction and of diorite composition intrude the rocks of
the Cretaceous units. Quaternary terraces cover partially the above mentioned rocks in the south of the block.
A branch of the Toachi regional fault is
the contact between the rocks of the
Macuchi and Mulaute units.
GEOLOGICAL MODEL:
43
Block 5
foothills of the Real Oriental range
at an average altitude of 1,000
Location:
Coordinates:
Reference GCS:
Province of Napo
Lat: 0.896 S
Long: 77.80 W
COLOMBIA
0º
SUCUMBIOS
PICHINCHA
PACIFIC
OCEAN
QUITO
Guayaquil
P E R U
0
50
NAPO
100 km
ORELLANA
ARCHIDONA
Block 5
TENA
Tena
C O T O PA X I
PA S TA Z A
TUNGURAHUA
POTENTIAL:
BLOCK GEOLOGY:
Indications of alluvial gold in three rivers
that cross the block. Adjacent to the areas of Terra Earth Resources S.A.
The oldest sequence is the Misahuallí
Unit of the Jurassic age, constituted
mainly by calc-alkaline volcanic rocks
of continental arc. Overlaying incongruously in the Misahuallí Unit we can
find the Hollín and Napo marine sedimentary formations and the Tena formation of the upper Cretaceous age
of continental origin. Cenozoic continental sediments cover sequences in
the western sector. In the northwest
of the area, Abitagua granite from the
Jurassic age is exposed.
GEOLOGICAL MODEL:
44
Block 6A
Location:
Province of
Cotopaxi
Coordinates:
Lat: 1.063 S
MINING
Cordillera Occidental Range,
southwest of the province of
Cotopaxi at an average altitude of
1,500 meters above sea level. The
area of the block is 16,000 Ha.
COLOMBIA
0º
PACIFIC
OCEAN
QUITO
SANTO DOMINGO
DE LOS TSACHILAS
Guayaquil
PICHINCHA
P E R U
0
50
100 km
LOS RIOS
Latacunga
C O T O PA X I
NAPO
Block 6A
PANGUA
TUNGURAHUA
B O L I VA R
POTENTIAL:
BLOCK GEOLOGY:
Traces of gold and copper are found in
samples of active river sediments collected in the northeast and southwest
of Block 6A.
This block is made up mostly by
volcanic, volcanoclastic and volcanosedimentary rocks, predominantly
of mafic composition and tholeiitic
affinity included in the Macuchi Unit,
which is part of an islands arc that
developed in the Paleocene-Eocene.
By geological correlation, it is established that bedrock is the Caribbean
Plateau. This sequence is intruded by
plutons of quartz dioritic, dioritic and
tonalitic composition, of calc-alkaline
affinity. Several alluvial deposits and
terraces cover the above mentioned
sequences, south-west of the area.
Block 6A is located southwest of the
old Macuchi (VMS) mine which was
exploited in the last century, and near
Curipamba projects of Curimining S.A.
GEOLOGICAL MODEL:
45
Block 6B
This block is located in the Cordillera Occidental Range, north
of the province of Bolívar, at an
block is 39,500 Ha.
Location:
Coordinates:
Reference GCS:
Province of Bolivar
Lat: 1.312 S
Long: 79.08 W
C O T O PA X I
TUNGURAHUA
Block 6B
LOS RIOS
GUARANDA
Guaranda
BOLIVAR
COLOMBIA
0º
PACIFIC
OCEAN
QUITO
CHIMBORAZO
G U AYA S
Guayaquil
P E R U
0
50
100 km
POTENTIAL:
BLOCK GEOLOGY:
Several areas of hydrothermal alteration
and places with pyrite and chalcopyrite
mineralization. Occurrences of copper
and gold. Located near Curipamba
Projects of Curimining S.A.
This block is constituted by volcanic rocks included in the Macuchi
Unit and vocanosedimentary rocks
of the Arrayanes Unit. In the southeastern part, sequences are covered
by volcanosedimentary rocks of the
Zumbahua Group. Several intrusions
of Miocene age of variable composition (quartz dioritic, dioritic and tonalitic), including plutons of El Corazón
and Chazo Juan, intrude the above
described sequences.
Direct investment.
GEOLOGICAL MODEL:
46
Block 6C
This block is located in the west
flank of the Cordillera Occidental
Range, east of the province of
Los Ríos, at an average altitude
of 700 meters above sea level.
The area of the block is 5,304 Ha.
Province of
Los Ríos
Lat: 1.580 S
Long: 79.29 W
MINING
Location:
Coordinates:
Reference GCS:
MANABÍ
COLOMBIA
C O T O PA X I
0º
G U AYA S
PACIFIC
OCEAN
QUITO
Quevedo
Guayaquil
P E R U
0
50
100 km
LOS RIOS
B O L I VA R
Block 6C
URDANETA
POTENTIAL:
BLOCK GEOLOGY:
Several areas of hydrothermal alteration and places with pyrite and chalcopyrite mineralization. Occurrences of
copper and gold. Located northeast of
Telimbela project of the ENAMI.
The bedrock is constituted by volcanic rocks of Macuchi Unit. An intrusive of the Oligocene-Miocene age of
granodioritic to tonalitic composition
intrudes the paleoscenic sequences
which make up most of the northwestern part of the area.
GEOLOGICAL MODEL:
47
Block 7
This block is located in the central
area of the Real Oriental range in
Sacraurcu sector, northeast of the
Province of Chimborazo, at an
block is 37,100 Ha.
Location:
Province of
Chimborazo
Coordinates:
Lat: 1.94 S
TUNGURAHUA
RIOBAMBA
COLOMBIA
0º
B O L I VA R
Riobamba
QUITO
PACIFIC
OCEAN
CHAMBO
Guayaquil
Block 7
P E R U
0
50
100 km
G U AYA S
MORONA SANTIAGO
CHIMBORAZO
GUAMOTE
CAÑAR
POTENTIAL:
BLOCK GEOLOGY:
Several signs of volcanogenic massive sulphides with occurrences of
zinc, copper and silver. Adjacent
to the Yurac Rumi project of the
CONMINAS S.A. Company.
The oldest rocks are included in the
Alao-Paute Unit of the Jurassic age,
interpreted as an arc of islands located west of the rocks that form the
core of the metamorphic belt of the
Cordillera Real. In the western part
of the block, in tectonic contact, are
the metaturbidites of Maguazo Unit
which are also from the Jurassic age.
On the western edge appears the
Peltetec Unit consisting of mafic and
ultramafic rocks which are part of an
ophiolitic complex. Sequences are
intruded by Alao pluton of the Tertiary
age. The southern region is covered
by Tertiary and Quaternary volcanic
rocks.
48
GEOLOGICAL MODEL:
Block 8
This block is located in the Cordillera Occidental Range, in the
center of the province of Cañar
at an average altitude of 2,400
meters. The area of the block is
10,890 Ha. Province of Cañar
Lat: 2.54 S
Long: 79.12 W
MINING
Location:
Coordinates: Reference GCS:
G U AYA S
CHIMBORAZO
CAÑAR
SUSCAL
EL TAMBO
Block 8
CAÑAR
Azogues
MORONA SANTIAGO
COLOMBIA
A Z U AY
0º
PACIFIC
OCEAN
QUITO
Guayaquil
P E R U
0
50
100 km
POTENTIAL:
BLOCK GEOLOGY:
Areas with hydrothermal alteration
with pyrite mineralization and occurrences of zinc, silver and gold.
Adjacent to ELIPE and AMEGOLD
S.A. projects.
The oldest sequences are the subaerial volcanic and intermediate calc-alkaline to acid rocks of the Saraguro
Group, which include the Ocaña formation, overlain by the Tomebamba
Unit, the Chanlud and Cerro Caucay
formations whose age ranges from
the Late Middle Eocene to the Early
Miocene. There is a predominance of
andesitic lavas interbedded with volcanic sediments and andesitic massive tuffs with lithic lapilli, produced
by ash flows. Rhyolitic domes intrude
into the Chanlud formation.
GEOLOGICAL MODEL:
49
Block 9
This block is located on the
western flank of the Cordillera
Real range, southeast of the
province of Azuay and on the
border with the province of
Morona Santiago at an average
altitude of 2,900 meters above
sea level. The area of the block is
28,175 Ha.
Location:
Coordinates:
Reference GCS:
Provinces of
Morona Santiago
and Azuay
Lat: 3.24 S
Long: 78.83 W
COLOMBIA
TUNGURAHA
0º
PACIFIC
OCEAN
QUITO
Guayaquil
PA S TA Z A
P E R U
0
50
CHIMBORAZO
100 km
Macas
CAÑAR
MORONA SANTIAGO
G U AYA S
Cuenca
A Z U AY
NABÓN
PERU
Block 9
GUALAQUIZA
EL ORO
LOJA
ZAMORA CHINCHIPE
POTENTIAL:
BLOCK GEOLOGY:
Several rivers with presence of alluvial gold, in addition to gold, magnetite
and pyrite mineralization. Traces of
zinc, arsenic, antimony and barium
in samples of river sediments and,
in heavy sediments, tungsten, tin,
cerium, yttrium and chromium. This
block is adjacent to the projects of
TERRASOURCES S.A.
The bedrock is made up by metamorphic rocks of the Chiguinda unit.
Regarding lithology, bedrock includes
low-grade metamorphic rocks, interpreted as a part of an intracratonic basic and correlated with Carboniferous
and Devonian rocks of the Peru –
Bolivia Depression. To the west there
is an outcrop of Type S metagranites
of the Tres Lagunas unit. Contact between the two units is tectonic. Minor
intrusive bodies of the Tertiary age are
located in the pre-Cretaceous units.
Units are covered by tertiary continental volcanic rocks.
50
GEOLOGICAL MODEL:
Block 10A
Location:
Coordinates:
Reference GCS:
Province of El Oro
Lat: 3.37 S
Long: 79.54 W
MINING
This block is located south of
the Cordillera Occidental Range,
northeast of the province of
El Oro, at an average altitude of
1,400 meters above sea level.
COLOMBIA
0º
PACIFIC
OCEAN
QUITO
Guayaquil
P E R U
Machala
A Z U AY
0
50
100 km
Block 10A
CHILLA
EL ORO
ZARUMA
PERU
LOJA
POTENTIAL:
BLOCK GEOLOGY:
Occurrences of gold, zinc, cobalt and
tellurium. Close to the San Gerardo
mining areas.
The block is located southwest of
the Cordillera Occidental range,
bedrock is made of rocks of El Oro
Metamorphic Complex which includes rocks of the Piedras Maphic
Complex and of the Moromoro
Granitoyd Complex of the Triassic
age, overlaid incongruously by rocks
related to the Oligocene volcanism of
the Saraguro Group from the Middle
Late Eocene to the Early Miocene,
and volcanosedimentary rocks of
the Santa Isabel formation. Rocks of
granodioritic composition from the
Miocene intrude the metamorphic,
volcanic and sedimentary rocks.
GEOLOGICAL MODEL:
51
Block 10B
southwest of the Cordillera
Occidental Range, east of the
province of El Oro and at an
block is 7,310 Ha.
Location:
Coordinates:
Reference GCS:
Province of El Oro
Lat: 3.54 S
Long: 79.62 W
COLOMBIA
0º
PACIFIC
OCEAN
QUITO
Machala
Guayaquil
P E R U
0
50
A Z U AY
100 km
CHILLA
EL ORO
ATAHUALPA
PERU
Block 10B
ZARUMA
LOJA
POTENTIAL:
BLOCK GEOLOGY:
Occurrences of metallic minerals of
gold and polymetals. There is also a
mesothermal mineralization area with
presence of tourmaline, quartz, sericite, epidote and arsenopyrite. Traces
of gold, zinc, cobalt-mercury-antimony-lead-tellurium and arsenic in samples of active stream sediments.
The bedrock is made up by rocks of
El Oro Metamorphic Complex which
includes rocks of the Piedras Maphic
Complex and of the Moromoro
Granitoyd Complex of the Triassic
age, overlaid incongruously by rocks
related to the Oligocene volcanism of
the Saraguro Group from the Middle
Late Eocene to the Early Miocene.
Rocks of granodioritic composition
from the Miocene are largely spread
and intrude the metamorphic and volcanic rocks of the Saraguro Group.
GEOLOGICAL MODEL:
52
Block 11A
the Cordillera Real range in the
Pan de Azúcar Mountain, at an
block is 9,350 Ha.
MINING
Location:
Province of Zamora
Chinchipe
Coordinates:
Lat: 3.84 S
MORONA SANTIAGO
A Z U AY
CHILLA
Block 11A
ZAMORA
CENTINELA
DEL CÓNDOR
Zamora
LOJA
COLOMBIA
PACIFIC
ZAMORA
CHINCHIPE
0º
QUITO
OCEAN
PERU
Guayaquil
P E R U
0
POTENTIAL:
BLOCK GEOLOGY:
Occurrences of gold and silver. This
block is located west of the Fruta del
Norte project (AURELIAN S.A.).
In this sub-Andean belt appears the
Misahualli Unit, made up by continental calc-alkaline lavas, intruded by
the Zamora batholith which is made
up by granodiorites and diorites.
50
100 km
GEOLOGICAL MODEL:
53
Block 11B
the Cordillera Real range in
San José, Cumbaratza and La
Ramada hills, at an average
5,000 Ha.
Location:
Province of Zamora
Chinchipe
Coordinates: Lat: 3.93 S
MORONA SANTIAGO
AZUAY
Block 11B
Zamora
ZAMORA
LOJA
COLOMBIA
QUITO
OCEAN
ZAMORA
CHINCHIPE
0º
PACIFIC
PERU
Guayaquil
P E R U
0
POTENTIAL:
BLOCK GEOLOGY:
Occurrences of gold and silver, and
also of alluvial gold. The block is located west of the Fruta del Norte
project (AURELIAN S.A.)
In the sub-Andean belt appear mostly rocks from the Zamora batolite,
which are made up by granodiorites
and diorites of calc-alkaline affinity.
50
100 km
GEOLOGICAL MODEL:
54
Block 12 A
This block is located in the Cordillera Occidental Range, in the
north central part of the Province
of Loja, at an average altitude of
Province of Loja
Lat: 3.92 S
Long: 79.78 W
MINING
Location:
Coordinates:
Reference GCS:
COLOMBIA
0º
AZUAY
QUITO
PACIFIC
OCEAN
SARAGURO
Guayaquil
EL ORO
P E R U
0
50
100 km
CHAGUARPAMBA
Block 12A
OLMEDO
Loja
PALTAS
LOJA
ZAMORA
CHINCHIPE
PERU
POTENTIAL:
BLOCK GEOLOGY:
Traces of lead, gold and antimony.
Adjacent to projects of ELIPE S.A.
This block is located in the Alamor
Lancones Basin, south of El Oro
Metamorphic Complex and is
made up by volcanoclastic rocks
of the Celica Unit from the Lower
Cretaceous Age, overlain by volcanosedimentary rocks of the Alamor
Group (Quillosara and Zapotillo units)
of the Upper Cretaceous.
GEOLOGICAL MODEL:
55
Block 12 B
This block is located on the Cordillera Occidental Range, in the
east central part of the Province
of Loja at an average altitude of
Location:
Coordinates:
Reference GCS:
COLOMBIA
0º
AZUAY
QUITO
SARAGURO
OCEAN
PACIFIC
Province of Loja
Lat: 4.17 S
Long: 79.79 W
Guayaquil
EL ORO
P E R U
0
50
100 km
Loja
ZAMORA
CHINCHIPE
CELICA
Block Block
12B 12B
LOJA
SOZORANGA
PERU
POTENTIAL:
BLOCK GEOLOGY:
Traces of polymetals with gold, silver, lead, zinc and molybdenum.
Adjacent to ELIPE S.A. projects.
Block 12B begins in Alamor Lancones
Basin and is made up by basic effusive and intrusive rocks of tholeiitic
affinity of the Punta de Piedra Unit
from the Lower Cretaceous age. In
most of the area occurs the Tangula
batholith of calc-alkaline affinity from
the Cretaceous age, which intrudes
the volcanic rocks.
GEOLOGICAL MODEL:
56
Block 12 C
IThis block is located on the Cordillera Occidental Range, in the
central-east part of the Province
of Loja at an average altitude of
Province of Loja
Lat: 4.28 S
Long: 79.51 W
MINING
Location:
Coordinates:
Reference GCS:
COLOMBIA
0º
AZUAY
QUITO
PACIFIC
OCEAN
SARAGURO
Guayaquil
EL ORO
P E R U
0
50
100 km
Loja
Block 12B
ZAMORA
CHINCHIPE
LOJA
GONZANAMÁ
Block 12C
CARIAMANGA
QUILANGA
PERU
POTENTIAL:
BLOCK GEOLOGY:
Traces of polymetals with gold, copper and lead. Adjacent to ELIPE S.A.
projects.
This block is located in the east edge
of the Alamor Lancones Basin and
is made up by volcanic and volcanoclastic rocks from the PaleoceneEocene age of the Sacapalca Unit.
GEOLOGICAL MODEL:
57
Block 13 A
Ecuador in the Cordillera Real
range in San Francisco del Vergel
sector, at an average altitude of
Location:
Province of Zamora
Chinchipe
Coordinates:
Lat: 4.65 S
MORONA SANTIAGO
A Z U AY
COLOMBIA
Zamora
0º
QUITO
PACIFIC
ZAMORA CHINCHIPE
OCEAN
LOJA
Guayaquil
P E R U
NANGARITZA
0
50
100 km
PALANDA
Block 13A
PERU
CHINCHIPE
POTENTIAL:
BLOCK GEOLOGY:
Several rivers have traces of alluvial gold, lead, zinc and copper in
samples of river sediments, and in
heavy sediments there are traces of
chrome and vanadium. Close to areas of the National Mining Company
andBIRA S.A.
Located in the Cordillera del Cóndor
range, the block is made up by continental calc-alkaline volcanic rocks of
the Misahuallí Unit from the Jurassic
age, intruded by granodiorites and
diorites of Zamora batholith from the
Jurassic age. Sequences are overlain
incongruously by sedimentary rocks
of the Hollin and Napo formations
of the Cretaceous age. Contact between all sequences is tectonic and
is represented by La Canela fault of
north-south direction.
GEOLOGICAL MODEL:
58
Block 13 B
southern border of Ecuador
with Peru in the Chito sector of
the Cordillera Real range, at an
block is 22,425 Ha.
Location:
Province of Zamora
Chinchipe
Coordinates:
Lat: 4.82 S
MINING
MORONA SANTIAGO
A Z U AY
COLOMBIA
Zamora
0º
OCEAN
PERU
PACIFIC
LOJA
ZAMORA CHINCHIPE
QUITO
Guayaquil
P E R U
0
50
100 km
PALANDA
Block 13B
CHINCHIPE
POTENTIAL:
BLOCK GEOLOGY:
Several rivers with traces of alluvial
gold. Adjacent to areas of the National
Mining Company and BIRA S.A.
Located in the Cordillera del Cóndor
range, this block is made up by continental calc-alkaline volcanic rocks of
the Misahuallí Unit from the Jurassic
age, intruded by granodiorites and
diorites of the Zamora batholith from
the Jurassic age. Sequences are
overlain incongruously by sedimentary rocks of the Hollin and Napo
formations from of the Cretaceous
age. Contact between all sequences
is tectonic and is represented by La
Canela fault of north-south direction.
GEOLOGICAL MODEL:
59
Block 13 C
southern border of Ecuador with
Peru in Chito sector of the Cordillera Real range, at an average
39,777 Ha.
A Z U AY
Location:
Province of Zamora
Chinchipe
Coordinates:
Lat: 4,80 S
Reference GCS: Long: 79,21 W
MORONA SANTIAGO
PERU
Zamora
COLOMBIA
0º
QUITO
PACIFIC
ZAMORA CHINCHIPE
OCEAN
LOJA
Guayaquil
P E R U
PALANDA
0
50
100 km
Block 13C
CHINCHIPE
POTENTIAL:
BLOCK GEOLOGY:
Presence of molybdenum, thorium, barium, uranium, cerium, tungsten, niobium, tin and lead has been
reported.
The block is located in the Cordillera
Real range and is mostly made up by
metamorphic rocks of the Sabanilla
Unit from the Triassic age, which
are in tectonic contact with rocks of
the Isimanchi Unit and the Zamora
batholith, along the Palanda fault of
north-south direction.
GEOLOGICAL MODEL:
60

Investment catalogue in strategic sectors

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