World’s Biggest Miner Speeds Hunt for Copper in ‘Last Frontier’
- BHP has opened office in Ecuador along with Newcrest, Hancock
- Value of nation’s mining sector could hit $7.9 billion by 2021
This article is for subscribers only.
BHP Billiton Ltd., the world’s biggest miner, has opened an office and is seeking to add staff in Ecuador as it advances a search for copper in a nation that’s becoming the sector’s exploration hot-spot.
Melbourne-based BHP’s local unit, Cerro Quebrado, will spend about $82 million on exploration, having established a base in the capital, Quito, and advertised for workers including a senior geologist. The value of Ecuador’s mining sector could rise to $7.9 billion by 2021 from $1.1 billion this year as major players arrive, according to Fitch Group’s BMI Research.