SLGGF - Ecuador Joins The Copper Rush Invests $3.2B In SolGold | Benzinga
Ecuador-focused mining company SolGold (OTCPK: SLGGF) surged 23% following the announcement of a $3.2 billion investment from the Ecuadorian government in its flagship Cascabel copper-gold project. This investment, marking a historic milestone for Ecuador’s mining sector, reflects the country’s strategic move to capitalize on the burgeoning copper market amid looming supply constraints and forecasted shortages of this critical metal.
SolGold's CEO Scot Caldwell expressed enthusiasm about the groundbreaking deal, stating that this deal “not only reinforces the protections for our key investment in Ecuador but also symbolizes a deepening of our relationship with the Ecuadorian State.”
The investment is separate from the government’s prior commitment of $311 million for the Cascabel project. The project boasts indicated resources of 2.050 billion tons, including 8.4 million tons ...