Codelco struck a deal with Ecuador for the joint development of the Llurimagua copper project in the country, Reuters reported March 10.
The Chilean copper miner will hold a 49% stake in the project, and Ecuador will hold a 51% interest through Enami EP. Llurimagua could become the first mine Codelco operates outside of Chile after years of efforts to expand globally.
The companies did not provide development cost and production estimates for Llurimagua, according to the newswire.
