The lack of concessions highlights the urgency of clear rules and legal certainty to attract mining investment
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Mining in Ecuador is no longer just an economy, but a global strategic issue. Copper and other critical minerals are essential in the energy transition and in competition between powers such as China and the
United States.
In recent years, several mining operations in the country have focused on Chinese capital, especially projects such as the Mirador mine. This raises concerns about the dependence on a single source of investment in strategic sectors.
Carlos de Miguel, CEO and general manager of Hanrine Exploration & Mining, the Ecuadorian subsidiary of Australia's Hancock Prospecting, owned by billionaire Gina Rinehart, signed an agreement with Enami EP to explore unexplored territories adjacent to the Llurimagua copper deposit. The initial investment amounts to USD 1.9 million
. Carlos de Miguel - CEO of Hanrine Exploration & Mining
Almost two years later, the project has not progressed due to the lack of awarding the necessary concessions. Hancock requested the mediation of the State Attorney General's Office to resolve the conflict
.
The case highlights the importance of Ecuador ensuring legal security, compliance with agreements and clear rules for international investors. The confidence of foreign capital depends both on geological wealth and on institutional consistency
.
For the government of Daniel Noboa, this scenario represents an opportunity to demonstrate that Ecuador can attract diversified investment and consolidate itself as a safe destination for strategic capital, avoiding concentration and strengthening the country's geopolitical position.
