The Canadian deep sea miner has signed agreements with United Engineering Services LLC to provide support services associated with wet testing the company’s production and storing equipments.
Lundin will pay Ecuador an advance royalty of $65 million. In exchange, the miner won’t be charged a windfall tax until it recovers its development investment.
Environment and Energy Minister, Panos Skourletis, said the company must recall its decision to halt work at most of its sites before any dialogue between the two sides can begin.