{"id":1149819,"date":"2019-11-14T09:28:55","date_gmt":"2019-11-14T15:28:55","guid":{"rendered":"https:\/\/www.mining.com\/?p=1006828"},"modified":"2019-11-14T09:28:55","modified_gmt":"2019-11-14T15:28:55","slug":"lundin-gold-granted-key-permits-to-begin-production-at-ecuador-massive-project","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1149819","title":{"rendered":"Lundin Gold granted key permits to begin production at Ecuador massive project"},"content":{"rendered":"<p>Canada\u2019s Lundin Gold (TSX:LUG)&nbsp;<a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"https:\/\/www.lundingold.com\/en\/news\/lundin-gold-receives-key-permits-for-its-fruta-del-122605\/\" >said Thursday<\/a> it had been granted the two outstanding permits it required to move its $692-million Fruta del Norte gold project, in Ecuador, into production.<\/p>\n<div class='d-flex justify-content-center'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>The Vancouver-based miner said that receiving the industrial water permit and administrative act guarantees it would achieve its goal of pouring its first gold before the end of this year, with commercial production expected in the second quarter of 2020.<\/p>\n<p>Lundin, worth almost C$1.7 billion in Toronto, has been developing the asset for almost two years, following a 2016&nbsp;<a href=\"https:\/\/mining.com\/ecuador-grants-lundin-key-permit-for-its-fruta-del-norte-gold-mine\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">agreement with Ecuador\u2019s government<\/a>&nbsp;that allowed it to move ahead with the project.<\/p>\n<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p>Lundin has been developing the asset for almost two years, following a 2016&nbsp;agreement with Ecuador\u2019s government<\/p>\n<\/blockquote>\n<\/figure>\n<p>The company acquired the project in 2015 for $240<br \/>\nmillion&nbsp;<a href=\"https:\/\/mining.com\/kinross-gold-allegedly-trying-to-recover-ecuador-mine-losses-51340\/\"  rel=\"noreferrer noopener\">from fellow Canadian miner Kinross Gold<\/a>&nbsp;(TSX:K)<br \/>\n(NYSE:KGC), which had to halt operations after being unable to reach an<br \/>\nagreement with authorities&nbsp;regarding the terms for developing&nbsp;the<br \/>\nasset.<\/p>\n<p>The underground gold and silver mine, which will be Ecuador\u2019s largest, contains six of Lundin\u2019s 29 mining concessions and covers 70,000 hectares of land. Discovered in 2006, Fruta del Norte is expected to produce 4.6 million ounces of gold over a 15 year mine life.<\/p>\n<p>Ecuador has\u00a0<a href=\"https:\/\/mining.com\/ecuadors-rising-opposition-mining-may-thwart-exploration-boom\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">gained ground<\/a>\u00a0as a mining investment destination over the past two years, with top miners entering into joint ventures or investing in juniors to gain exposure to\u00a0projects\u00a0in that country.<\/p>\n<p>Anglo American (LON: AAL) also landed in the South American nation through a deal with Canada\u2019s Luminex Resources (TSX-V: LR). The company plans to develop two copper and gold concessions there.<\/p>\n<p>Currently, Ecuador\u2019s emerging mining sector employs 5,000 people, but&nbsp;estimates the figure will rise to about 16,000 by 2020.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The industrial water permit and administrative act will allow the company produce its first gold before the end of this year.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[369,4],"tags":[43],"class_list":["post-1149819","post","type-post","status-publish","format-standard","hentry","category-miningcom","category-news","tag-exploration"],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1149819","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1149819"}],"version-history":[{"count":4,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1149819\/revisions"}],"predecessor-version":[{"id":1149900,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1149819\/revisions\/1149900"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1149819"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1149819"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1149819"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}