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Dundee firms up Ecuador investment protection agreement

21st August 2023

By: Mariaan Webb

Creamer Media Contract Publishing Editor

     

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Toronto-listed Dundee Precious Metals has completed an investment protection agreement (IPA) with Ecuador for the $400-million copper and gold mining project that it is pursuing in that country.

Under the IPA, Ecuador has granted Dundee tax stability and certain tax incentives, as well as legal protections, including stability of the regulatory framework and resolution of disputes through international arbitration.

CEO David Rae comments that the IPA is a positive step forward for the Loma Larga project, which will produce 200 000 gold-equivalent ounces a year in the first five of its 12-year mine life.

Life-of-mine production is about 170 000 oz/y of gold.

Edited by Creamer Media Reporter

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