Canada’s Lundin Gold (TSX:LUG) has closed a $400-million financing that will help it complete the construction of its flagship Fruta del Norte gold project in Ecuador, expected to begin production in late 2019. The Vancouver-based company, which last month secured a $250-million investment from Newcrest Mining, which is part of the total announced today, said the Australian miner now owned 27.1% of Lundin’s outstanding shares. Zebra Holdings and Investments S.à.r.l. and Lorito Holdings S.à.r.l. (the Lundin Family Trusts) collectively own 22.3%; and Orion holds an 11.4% stake, Lundin said. Lundin has been developing Fruta del Norte for over a year,…
Want to read the whole story?
Subscribe to The Cuenca Dispatch and gain full access to this story, weekly issues, plus the entire running archive! With your subscription, you will gain access to all the news you'll need concerning Ecuador as a United States expat.
Get access to our most read articles
- Cuenca expat scene is ‘changing before our eyes’
- Los Perniles
- Immerse yourself in Cuenca’s bountiful markets
- Global warming? Most of the hot air is generated by politicians
- Ecuadorian named to Time magazine’s 100 most influential people list
- What should you bring to Cuenca?
- Artesana Bakery: a love story
- Searching for origin of the word ‘Gringo’
- Cuenca will have a new Ludic Botanical Garden
- Ancient craft of ikat thrives in Gualaceo