“Early works will take place from November to the end of the year with construction expected to start after the rainy season in the area, towards the second quarter,” Salazar Resources president and chief executive, Fredy Salazar, told BNamericas on Wednesday.
Construction of the project has been delayed in various occasions due to mining rules changes in the Andean country, legal challenges, and the takeover of one of the project’s owners — Adventus Mining.
Located about 150 km northeast of Guayaquil, the Curipamba-El Domo asset spans seven concessions over 21,500 hectares. It was originally owned by Salazar in partnership with Adventus Mining, which was acquired by Silvercorp Metals (TSX: SVM) (NYSE: SVM) in July.
Construction will be fully funded from Silvercorp’s existing cash balance combined with a $175.5 million streaming deal Adventus had signed with Wheaton Precious Metals in 2022.
The mine is considered one of…
