Ecuador to offer new mining concessions in Q4 2011

The company changed its board of directors and plans to spin out non-core assets La Verde, Capricho, and Paco Orco into a new company.

The miner may cut its labor costs by 10%, which could involve layoffs among its 35,000 staff.

Case centres on a 2018 toxic spill at the Badila oilfield, equivalent in volume to 34 Olympic-sized swimming pools.

The 20 MWp solar and 11 MWh battery project will provide clean energy to meet 20% of the mine’s energy needs.