Mining exports from January to July 2023 totaled $1,952.70 million, representing 21.42% more than what was exported in the same period in 2022, according to the Central Bank of Ecuador (BCE).

With this figure, according to the Government’s analysis, in seven months, 68 percent of the export of mining products predicted for 2023, which is estimated at 2,862 million dollars, was realized, although the sector estimates the figure above 3,000 million dollars, according to what Juan José Herrera said, senior business sustainability manager at Lundin Gold, according to a report by an international agency EFE. Lundin Gold is one of two producing mines in Ecuador and is located in the province of Zamora Chinchipe.

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Herrera also stated that in the first half of this year, mining exports amounted to 1.642 million dollars.

On the other hand, the publication of these figures comes after Eulalia Silva, executive director of the Chamber of Mines, indicated that in 2022 there was a disinvestment in mining in the amount of 190 million dollars. That year, mining exports amounted to 2.775 million dollars.

China, the United Arab Emirates and Switzerland, the main destinations for Ecuadorian minerals

The executive pointed out that with this figure of $1,952.70 million, by July 2023, minerals remain the fourth most exported product in the country, behind shrimp, crude oil and bananas.

Doré gold ($772.94 million) was the most exported, followed by copper and its concentrates ($752.24 million), and gold concentrate ($421.86 million) was in third place. The main export destinations are China, the United Arab Emirates and Switzerland.

In addition, small-scale mining exports ranked second in mining exports, reaching $679.57 million by July 2023.

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The monthly average of mining products exports in 2023 is set at $278.96 million, up 21% from the 2022 average of $231.25 million.

On the other hand, the Government also highlighted the jobs that this sector creates. According to the National Survey on Employment, Unemployment and Underemployment, by the second quarter of 2023 direct jobs in the mining sector amounted to 36,721. These direct jobs generate 110,164 indirect jobs, for a total of 146,885 direct and indirect jobs, benefiting 572,853 people across the country.