China to develop the largest gold and copper mining operation in Ecuador.
American officials have expressed concerns after Ecuador signed an agreement with CMOC, a Chinese mining group. The agreement will develop the Cangrojos project, which is expected to become Ecuador’s largest gold and copper mining operation. The company is set to invest $1.7 billion through its subsidiary Odin Mining Ecuador, with construction to begin before the end of 2027.
The United States subsequently signed an agreement with Ecuador to secure critical minerals and reduce U.S. dependence on Chinese-controlled resources by building alternative supply chains. Officials say that initiatives such as the Mineral Security Partnership will support this effort.
The concern from U.S. officials is that China is increasing its control of Ecuadorian gold and copper resources. They anticipate that this could impact the supply chains for defense technology and the energy sector.
As the Lord Leads, Pray with Us…
- For U.S. officials to be prudent as they seek to diversify the nation’s sources for critical minerals.
- For the president and members of his Cabinet as they work to ensure global supply chains support defense technology and energy development.
Sources: UPI News, Reuters
