Chinese mining giant CMOC said it would invest $1.7 billion to develop a major gold mine in Ecuador, a deal that analysts said risks angering Washington. Beijing has made major economic inroads across South America in recent decades, dislodging the US to become the region’s biggest trading partner. But since the start of his second term, US President Donald Trump has vowed to reassert Washington’s dominance in the region, pushing nations to shun ties with Beijing, a move most are reluctant to make. “Whether it is the US, whether it is China, we do not reserve our minerals for one specific country,” a senior Brazilian official said.
Messyfingers on
That’s s fairly standard amount for getting a gold mine of that size going actually, but Chinese mining companies have been expanding presence in Latin America in recent years. It’s possible this is as much about copper as the gold itself though.
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Chinese mining giant CMOC said it would invest $1.7 billion to develop a major gold mine in Ecuador, a deal that analysts said risks angering Washington. Beijing has made major economic inroads across South America in recent decades, dislodging the US to become the region’s biggest trading partner. But since the start of his second term, US President Donald Trump has vowed to reassert Washington’s dominance in the region, pushing nations to shun ties with Beijing, a move most are reluctant to make. “Whether it is the US, whether it is China, we do not reserve our minerals for one specific country,” a senior Brazilian official said.
That’s s fairly standard amount for getting a gold mine of that size going actually, but Chinese mining companies have been expanding presence in Latin America in recent years. It’s possible this is as much about copper as the gold itself though.