Odin Mining del Ecuador signs $1.7 billion deal to develop gold-copper mine

10 articles · Updated · MarketWatch · Apr 28

The agreement with Ecuador covers the Los Cangrejos project in El Oro province, with the state set to receive about $4.39 billion in value, including royalties and patents.
The mine, acquired by CMOC last year via Lumina Gold, is estimated to have a 26-year life and significant gold reserves. The deal guarantees state revenue from the project's outset.
CMOC's Hong Kong-listed shares fell 3.8% following the announcement. The project underscores Ecuador's efforts to attract foreign investment in mining and strengthen its fiscal position.

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