The Canadian firm plans to produce between 475,000 and 525,000 ounces of gold in 2025, 2026 and 2027, and the new deposit would be operational by 2031.

Although 2024 was a difficult year due to the energy crisis, the Canadian mining company Lundin Gold, concessionaire of the Fruta del Norte project, reported that it managed to maintain its levels, reaching US$ 851 million in exports by September and estimates that by December it would have closed with US$ 1.2 billion.

That year, the mine produced 502,029 ounces of gold and production is expected to be between 475,000 and 525,000 ounces per year in 2025, 2026 and 2027, explained Juan José Herrera, Business Sustainability Director.

The data was shared on the morning of Wednesday, January 29, during an event in Quito, where the company presented the milestones of ten years of presence in Ecuador.

The exploitation of Fruta del Norte, located in the province of Zamora Chinchipe, began in 2019, since then exports total around US$ 4 billion and more than US$ 500 million have been generated for the State through income tax, profit sharing and mining royalties, highlighted Ron Hochstein, president and director of the Canadian firm.

“When we arrived in Ecuador, our goal was clear: to create shared value and demonstrate that maintaining an efficient operation that cares for the environment and promotes economic and social development is entirely possible. Today, with support, I can say that we have laid a strong foundation for the Ecuadorian mining sector,” said the executive.

Hochstein announced that exploration activities began in January 2023 at a new deposit, called Bonza Sur, which is located one kilometer from Fruta del Norte and is within the El Zarza concession area.

In 2025, the company will allocate an approximate budget of US$ 15 million to continue with the exploration of Bonza Sur. Hochstein said that between 2030 and 2031 it could begin the exploitation of minerals from the new deposit.