SolGold inks contract for Ecuador project

SolGold has signed the exploitation for its flagship copper-gold Cascabel project in Ecuador. The milestone follows the successful contractual negotiations and approval of the term sheet by the government of Ecuador in last summer. 

The contract and existing legislation and regulations establish the legal and financial terms and conditions required for Cascabel’s development.

“The signing of the exploitation contract for the Cascabel project is a landmark achievement for SolGold and our stakeholders,” said SolGold Ecuador CEO and President Scott Caldwell.

“This success would not have been possible without the invaluable collaboration and support from the Government of Ecuador, regional administrations, and local communities. We are strongly committed to cultivating sustainable development and shared prosperity in Ecuador and its communities.”

Under the terms of the contract, the government’s share of cumulative discounted benefits derived from Cascabel will be at least 50%. Additionally, ENSA has secured the right to develop Cascabel and produce copper, gold and silver for 33 years, which may be renewed for the life of the mine. 

Positioned to emerge as a significant South American copper-gold mine, Cascabel promises to rank among the top 20 globally. It is located in the Imbabura province in northern Ecuador.

Source: SolGold

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