Bloomberg Anywhere Remote Login Bloomberg Terminal Request a Demo

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Nortec May Acquire Doubloon’s Ecuador Gold Mine Stake, CEO Says

Dec. 1 (Bloomberg) -- Nortec Minerals Corp., a Canadian miner with operations in Europe and the Americas, is seeking to acquire a 51 percent stake in an Ecuadorean gold mine from Doubloon Exploration Corp., Chief Executive Officer Mohan Vulimiri said.

The company is “hoping” the Ganarin gold and silver mine in southern Ecuador holds as much as 2 million ounces of gold, Vulimiri said today in a telephone interview from Vancouver.

Ecuador’s southern Andean region near the Peruvian border holds some of the country’s richest mineral reserves, Vulimiri said. Nortec is interested in acquiring new mining concessions in the South American country, he said. Jorge Glas, the nation’s strategic sectors minister, said in June the government plans to offer new licenses to help develop copper and gold deposits, without giving more details.

“We’ve always considered Ecuador to have excellent potential for hosting some real big deposits,” Vulimiri said. “We’re looking for bonanza resources.”

To contact the reporter on this story: Nathan Gill in Quito at ngill4@bloomberg.net

To contact the editor responsible for this story: Dale Crofts at dcrofts@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.