Canadian mining company Dundee Precious Metals will invest $419 million in the concession for the Cristal project in Azuay

The mining sector will have a new investment of more than 400 million dollars through the Canadian company Dundee Precious Metals (DPM) and a mining concession called Cristal located in the province of Azuay.

Minister of Production, Foreign Trade, Investments and Fisheries Daniel Legarda reported and highlighted the realization of investments in the pharmaceutical sector and other industries which, together with DPM, amount to 500 million dollars and the creation of 1,000 new jobs in Croatia. Earth.

Between 2021 and 2023, investments in Ecuador exceed $1.5 billion, according to Julio José Prado, the outgoing minister

“Investments continue to grow. The Board of Strategic Investments approved $100 million in new investment contracts (last week). In addition, we learned about Grünenthal’s investment of $30 million for a new industrial facility and a contract was signed with Dundee Precious Metals for $419 million,” Legarda said.

The Canadian mining company’s commitment alone is expected to create 645 jobs in Azuay.

Stephen Potter, Canada’s ambassador to Ecuador, highlighted the commitment of the North American company and highlighted the message this operation will send to other investors in his country. “It is an important investment that will also give a signal to the investor market in Toronto, from the Toronto Stock Exchange, that Ecuador is a country to invest in,” the diplomat said.

For his part, Scoot Campbell, regional general manager of Dundee Precious Metals Ecuador, indicated that this investment represents an opportunity for Ecuador and for Dundee Precious Metals and all those interested in promoting the development of the industry in Ecuador “to offer opportunities for growth, employment , work, tax benefits to the state of Ecuador”.

The signing of the investment agreement was also attended by the Minister of Energy and Mining, Fernando Santos Alvite, and Roberto Salas, Secretary for Public-Private Investments.

The German pharmaceutical company Grünenthal confirmed the investment in the construction of an industrial plant in Quito, which will amount to 30 million dollars

In the case of the pharmaceutical sector, the company Grünenthal Ecuador reported that it will invest 30 million dollars in the construction of a new plant for the production of drugs in the country, with the aim of opening to the European market.

Likewise, on Tuesday, August 15, more than 26 million dollars of investment contracts and additions to investment contracts were approved in different industrial sectors, to be carried out in Guayas, Santa Elena, Manabí and Pichincha.

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