Canada’s Dundee Precious Metals (TSX: DPM) has moved a step closer to developing its Loma Larga gold project in Ecuador after the government completed a mandated consultation process that confirmed community support.
The next phase is obtaining the environmental licence, which would allow construction to begin—potentially before the end of the year.
María Eulalia Silva, executive president of Ecuador’s Mining Chamber, called the consultation an historic milestone. The Loma Larga project is expected to attract between $400 million and $500 million in investment and create around 1,500 direct jobs, most of them for local residents.
“For the first time, a free, prior, and informed consultation has been held in the country, as established by Convention 169 of the International Labour Organization, to which Ecuador is a signatory,” Silva said in a statement.
This process involves informing…
