By Meg Flippin, Benzinga

DETROIT, MICHIGAN - June 18, 2026 (NEWMEDIAWIRE) - Move over, Peru and Chile – when it comes to mining for gold and copper, Ecuador is proving to be the next bastion of growth. 

For good reasons. Only about 10% of the South American country’s territory has been explored despite being home to some of the world’s largest undeveloped gold and copper assets. Plus, the country is rapidly moving from a mining concept to a proven jurisdiction. 

After all, Ecuador is home to some major mining projects, including Lundin Gold's Fruta del Norte gold mine, which is one of the most lucrative gold mines in the world, and the Mirador copper mine, which is a large-scale open-pit operation and a cornerstone of the country’s copper export strategy. 

A Lot To Like About Ecuador 

It doesn’t hurt that its location makes logistics significantly easier than its bigger rivals in Peru and Chile. After all, Ecuador’s deposits sit at much lower elevations closer to the Pacific coast, which means heavy equipment and personnel don’t have to be transported to remote areas. Plus, it provides easier access to the water supply. The country also built out its hydropower infrastructure in order to give miners access to renewable energy at low rates, reducing their operational costs and carbon footprint. 

Then there’s the U.S dollar, which has been Ecuador’s official currency since 2000. International miners don’t have to worry about foreign exchange exposure or about the local currency fluctuating when dealing in the U.S. dollar. With mining exports growing, the government has been incentivizing companies to mine in Ecuador by offering streamlined environmental permitting and investment protection agreements.

M&A Heating Up 

The efforts on the part of the Ecuadorian government seem to be paying off. Beyond the incumbents, there is a new wave of projects underway that promises to continue to transform the country into a premier mining destination. 

Silvercorp's El Domo copper-gold mine, which is under construction and targeting initial production next year, is one. The Condor gold project, which is under permitting and development as a low-cost underground operation, is another. Then there’s Solaris' Warintza porphyry, which is an undeveloped copper-gold-molybdenum mining project progressing toward final development after securing its key Environmental Impact Assessment (EIA) technical approval.

Further validation of Ecuador's standing in the mining world is the M&A that has been taking place. Take Jiangxi Copper's $1.2 billion acquisition of SolGold for one example. In the deal, which took place in March 2026, the Chinese copper giant acquired SolGold, driven by a desire to secure long-term access to the tier-one copper-gold porphyry deposit and rapidly scale up China's industrial mineral reserves.

Then there’s CMOC Group’s $420 million deal to acquire Lumina Gold in June 2025. CMOC said the deal was designed to mark its strategic entry into the global gold market by securing 100% control of the project, which happens to be the largest primary gold asset in Ecuador. Both transactions underscore growing major-company conviction in Ecuadorian porphyry assets. 

Auro Metals Steps Up To The Plate 

Building on that is Auro Metals Inc. (OTC: AURFF), a Canadian mineral exploration company. The company’s recent acquisition of the Santa Barbara project from Silvercorp transformed it from an early-stage explorer into a serious player in Ecuador.  

Located in the Zamora Copper-Gold Belt of southeastern Ecuador, the Santa Barbara Gold-Copper Project is a large-scale porphyry system that the company says holds a high-confidence indicated resource of 29.8 million tonnes containing 697,000 ounces of gold and 68 million pounds of copper. It also holds a much larger inferred resource of 205.7 million tonnes, adding 3.4 million ounces of gold and 426 million pounds of copper to the asset's total scale, reports Auro Metals. 

“The closing of this acquisition marks the beginning of a new chapter for Auro. Santa Barbara is a large-scale, gold-copper porphyry system with an existing resource and significant exploration upside in one of the world's most prolific gold-copper metallogeny belts,” said Victor Feng, CEO of Auro. “With our financing in place and technical team mobilized,  we are fully focused on unlocking the potential of this asset for our shareholders.” Auro is paying a total of $13.5 million for the project, in a series of staged cash payments. 

Drilling Already Underway 

As part of the phase 1 program, drilling at Santa Barbara already commenced in April and is being executed by four drill rigs on site, reports Auro. Five holes have been completed to date, with the core currently being cut and prepared for shipment to the laboratory. Assay results will be reported as they become available.

The phase 1 program is designed to confirm historical drill results, complete infill drilling to upgrade the existing mineral resources and obtain fresh drill core to further the company's understanding of the mineralization controls and metallurgy. A subsequent phase 2 program, which will kick off once phase 1 is complete, will focus on step-out drilling and resource extension, including testing targets at depth. All of it is aimed at eventually moving to full-scale development. 

As major companies continue to lock down Ecuador’s premier porphyry assets, the race is on to secure the region’s remaining territory. With its phase 1 drilling underway at Santa Barbara, Auro is positioning itself at the forefront of this next mining explosion.

For investors watching South America's evolving mining landscape, eyes are now on Auro’s upcoming assay results to see just how large this investment’s potential is. To learn more about Auro Metals, click here. 

Featured image from Shutterstock.

This content was originally published on Benzinga. Read further disclosures here.

This post contains sponsored content and was created in collaboration with a third-party partner. Benzinga is a publisher and does not provide personalized investment advice or act as a broker or dealer. This content is for informational purposes only and is not intended to be investing advice or an offer or solicitation to buy or sell any security.