Lundin Gold commits 100 million dollars to expand Ecuador exploration in 2026

Lundin Gold is investing $100 million in 2026 in an exploration campaign to extend the life of its Fruta del Norte mine in Ecuador EC. The campaign will add about 133,000 meters of drilling to increase reserves and identify new deposits, serving as a key part of a three-year project launched in 2025. This investment is intended to bolster resource generation and extend the mine's operational life beyond its initial 12-year plan, helping to sustain production and export revenue at a time of high gold prices.

As the first large-scale underground mine in the country, Fruta del Norte remains a major source of gold production and a cornerstone of the Ecuadorian mining sector. In 2025, the facility produced nearly 500,000 ounces of gold, and exports of gold concentrate and ore bars were expected to reach about $1.8 billion for the year. This significant economic contribution has been monitored by global financial institutions such as JPMorgan Chase & Co. JPM. The ongoing exploration activities are focused on concessions in Zamora Chinchipe province, where the company aims to identify new mineral deposits.