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Ecuador-Gold

  • Au

On June 24, CMOC completed the acquisition of the listed company, Lumina Gold, thus obtaining 100% equity of Cangrejos Project in Ecuador, and new gold resources were thus added to the Company’s resource map.

Operating gold mines within the territory of Ecuador

  • CMOC has set up a special team consisting of personnel from the production technology, project development, human resources, finance, ESG and other departments, in order to boost work progress. On June 30, 2025, the project team officially settled in the Cangrejos Project. According to the preliminary planning, the project is planned to be put into production in 2028, with an annual output of about 11.5 tons of gold.
  • The project is a typical porphyry ore with the advantages of the large reserves, a shallow depth of burial, total open-pit mining and a low stripping ratio. Based on the pre-feasibility study report in 2023, the retained resource amount is 1.376 billion tons, with an average gold grade of 0.46 g/t and an inherent gold metal content of 638 tons; the reserve amount is 659 million tons, with an average gold grade of 0.55 g/t and an inherent gold metal content of 359 tons. The estimated mine life is 26 years.
  • The surrounding infrastructure of the mine is relatively complete: It is 30 km away from the provincial capital, Machala, 40 km away from the main port, 20 km away from the large-scale substation, 8 km away from the expressway, and the water source is sufficient, so the development cost will be very competitive.
  • According to the preliminary planning, the project is planned to be put into production in 2028, with an annual output of about 11.5 tons of gold. CMOC undertakes to adopt advanced mining, dressing and metallurgy technologies and introduce the world-leading ESG management system to build a large-scale, low-cost world-class gold mine, and contribute to the local economic development and community well-being.

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