Ecuador's Mineral Exports Hit A New High!

Ecuador's mineral exports reached $271.85 million in January, up 114 percent from a year earlier, surpassing the previous record of $255.88 million set in April 2021, the Ministry of Energy and Non-Renewable Natural Resources announced, BNAmericas reported. Mineral exports hit a new high in a single month.

The figures keep mining as the country's fourth largest economic pillar, the country's third largest non-oil and gas sector after crude oil, shrimp and bananas, and the largest non-traditional export sector, accounting for 11.07% of the country's merchandise exports.

Juan Carlos Bermeo, Ecuador's energy minister, stressed that "in January we achieved our target of mineral exports accounting for 12 per cent of total exports of $2.238 billion".

"If the current level of exports continues, it is highly likely to exceed the target," he said.

Exports of copper and copper concentrate topped the list at $157 million. Gold and concentrate exports were fifth at $115 million.

Exports from The Mirador mine were $152m (56 per cent of the total), according to Ecuador's central bank; Fruta del Norte exports amounted to us $67 million (25%), while small mines accounted for US $53 million (19%).

EcuaCorriente S.A. (owner of the Mirador mine) ranked second among export companies and first among non-oil and gas companies. Aurelian Ecuador S.A. (owner of the Fruta North gold mine) ranked fifth and fourth among non-oil and gas companies.

Official data from the Ministry of Energy show that Ecuador's mineral exports reached $2.092 billion in 2012, 31% above the target.

Ecuador's main exports include copper and gold concentrates, as well as gold bars, with smaller amounts of other minerals, including silver, lead and zinc. Leading exporters include China, Switzerland, the United States and Finland.

According to the statistics of the Ministry of Energy and Mines, as of September 2021, the direct employees of large, medium and small mining industries in Ecuador are nearly 40,000, and it is expected to reach 300,000 by 2025.