The property has geologic features that are analogous to the giant Udokan development project in Russia, which is the largest undeveloped copper project in the world.
The exploration and development company became the second Australian miner since April to back off from plans to buy the Glencore's CSA, in New South Wales.
A swift deterioration in China-US trade talks hit global financial markets this week as investors faced the prospect of an escalation rather than an end to a 10-month-old trade war.
The Australian miner believes that Cascabel and now Porvenir are the first in a long, large and rich string of copper-gold projects it will develop in Ecuador.
