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.
The site, which officially opens this week, will allow everyday investors access to fine quality precious metals (gold, silver, platinum, palladium and rhodium) in a variety of forms as well as safe deposit boxes.
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.