Based on our recommendations, Ecuador has become a mining investment destination. So far, the country has seen a 200% increase in direct foreign investment, jumping from an average of less than US$45 million per year to more than US$250 million per year currently, with an expectation of nearly US$1 billion per year for the next four years.
Over 200 new mining concessions were granted in the first year, accompanied by investment commitments of nearly US$500 million in the first four. And in the last two years, 28 internationally renowned mining companies have established entities in Ecuador to pursue investment opportunities.
Stock prices of Ecuador-focused mining companies have significantly outperformed the TSXV over the past two years, and the Ecuadorian government has been able to maintain a tax burden slightly higher than the regional average.