BANKS DODGY DEALS CAMPAIGNS
About BankTrack
Visit us
Organisation
Our team
Our board
Guiding principles
Team up with us
Jobs at BankTrack
Our annual reports
Funding and finances
History
BankTrack in the media
Our privacy policy
Donate
2023-03-17 00:00:00
Briefing: The role of financial institutions in decarbonising the steel sector
2023-03-09 00:00:00
Dutch bank ING supports controversial pipeline to import gas from authoritarian Azerbaijan
2023-02-23 00:00:00
Financial institutions need to address steelmaking’s coal addiction
2023-02-07 00:00:00
What COP15 means for banks: meeting the Global Biodiversity Framework requires protecting Indigenous rights and divesting from harmful industries
2023-03-20 08:50:41
Who dares to finance Eni and Exxon’s dangerous Rovuma gas plans in Mozambique?
2023-03-14 14:59:00
New ING policy could spark bank shift away from financing oil and gas infrastructure
2023-02-24 13:46:14
Pego power station conversion plans halted
2022-12-14 11:08:26
HSBC announces it will no longer finance new oil and gas fields
Connect
2022-11-22 00:00:00
Banking on Thin Ice: Two years in the heat
2022-11-17 00:00:00
BankTrack Global Human Rights Benchmark 2022
2022-10-21 00:00:00
Burning forests in the name of clean energy? How banks are failing to exclude the harmful wood biomass industry from finance
2022-06-28 00:00:00
The East African Crude Oil Pipeline (EACOP): Finance Risk Update No. 3
2022-04-05 00:00:00
The BankTrack Human Rights Benchmark Asia
2022-03-30 00:00:00
Banking on Climate Chaos 2022
See all publications
Sections
Banks Dodgy Deals Campaigns
Our campaigns
Banks and Climate
Banks and Human Rights
Banks and Nature
Banks and Pandemics
Our projects
Tracking the NZBA
Banks and Putin's war in Ukraine
Tracking the Equator Principles
Tracking the PRBs
Find a Better Bank
Banks and the OECD Guidelines
Media
News Publications
Fossil Banks No Thanks StopEACOP Forests & Finance Banks & Biodiversity Drop JBS Bank of Coal Don't Buy into Occupation
BankTrack
About BankTrack Visit us Organisation Our team Our board Guiding principles Team up with us Jobs at BankTrack Our annual reports Funding and finances History BankTrack in the media Our privacy policy Donate
Successes Contact BankTrack
Donate Mailing list Facebook Twitter Login
Home › Dodgy Deals ›
Dodgy Deal
El Mirador Copper MineEcuador

Project – On record

This profile is no longer actively maintained, with the information now possibly out of date
Lead organisation:
BankTrack
Contact:

Katharine Lu, Friends of the Earth US

Last update: 2016-10-12 23:18:41

Project – On record

This profile is no longer actively maintained, with the information now possibly out of date
Lead organisation:
BankTrack
Contact:

Katharine Lu, Friends of the Earth US

Last update: 2016-10-12 23:18:41
Why this profile?

What must happen

Ecuadorean and indigenous communities have called for a permanent end to all Mirador mining operations.  

About
Sectors Mining
Location
Website http://www.corriente.com/copper_assets/mirador.php

El Mirador is a copper mine project located in outheast Ecuador, widely considered one of the most biodiverse regions in the world. In 2010, two Chinese state owned enterprises, China Railway Construction Company (CRCC) and Tongling Nonferrous, bought Corriente Resources, which owns subsidiary Ecuacorriente Resources. Later in 2012, the Ecuadorean government awarded Ecuacorriente mining rights to El Mirador. The Mirador copper mine would consist of six copper sites which are expected to be operated as open pit mines. 

The concession spans across 10,000 hectares and would remove all vegetation and superficial soil layer in the mined area. Within the concession, over 6,000 hectares of the Protected Forest of the Condor Highland will be affected.

The copper deposit contains a proven reserve of 660 million tons of copper ore, (the copper content in this ore has an average of around 0,6%) in addition to some gold and silver ores. It is expected to produce about 30,000 tons per day over a period of more than 19 years. The mining concession also allows Ecuacorriente the rights to other minerals that may be found in the waste rock, such as uranium or molybdenum.

The project will create a series of environmental and social problems for indigenous communities. Local communities have already reported that Ecuacorriente did not obtain consent from residents on the project. Indigenous peoples have maintained that any mining in the area would irrevocably displace communities and impact their ability to sustain their livelihood, as mining activity would cause and spread heavy metal pollution, destroy sources of potable water, render at least three amphibian species to become extinct, and potentially contaminate the broader Amazon river system with waste generated by the copper mine.

Local Ecuadorean NGOs have raised concern on the lack of a complete environmental and social risk assessment for the project, violations of Ecuadorean laws, violations of international norms, and of a Chinese finance policy. The project is slated to begin construction at the end of 2015, and would become the first large scale mining activity in the country.

Impacts

Social and human rights impacts

Given the location of Mirador in La Cordillera del Condor, the copper mining project will have severe impacts on local communities. According to reports from local residents, Ecuacorriente did not seek their consent for the project. Although company representatives contacted residents and met with them, indigenous peoples have stated that conversations with the company aimed to gather information from residents about the local region, rather than obtaining community consent to develop the copper project.

In addition to the lack of free, prior, informed consent, the mining development will create a host of environmental problems with negative social impacts. For instance, acid mine drainage, which involves chemicals leaching into the water system from the mining process, in addition to the widespread destruction of protected forest and pollution of local water sources, will dispossess indigenous peoples of their livelihood by rendering their communities extremely toxic or uninhabitable. The environmental audit report of the Comptroller General identified 641 water sources that would be affected by the project.

The Mirador Copper Mine will violate the rights of indigenous peoples. These rights are articulated in the UN Declaration on the Rights of Indigenous Peoples. Article 7, which guarantees the rights to live in peace, freedom, and security, and Article 10, which maintains the right of free, prior, and informed consent and fair and just compensation, would be violated as the project would dispossess local residents' ability to live freely and deny their collective rejection of the mining. Articles 18, 23, 26, 28, 29,and 32 would be violated as well.

As mentioned, consultation processes with indigenous communities have not occurred. The few interactions that have taken place generally involve the company and male leaders. There are no opportunities for indigenous and peasant women to participate. In addition, many indigenous women, especially elderly women, do not read, write, nor speak Spanish, thus preventing them from voicing their concerns.


Environmental and climate impacts

Due to its location in the Upper Amazon Basin, mine development in El Mirador would likely contaminate downstream waterways of the Cordillera del Condor, thus potentially polluting the entire Amazon River system. According to the Environmental Impact Assessment conducted by Walsh Consultant, three species of amphibians will become extinct: allobates kingsburyi, pristimantis prhodostichus and pristimantis incomptus. One reptile species, enyalioides rubrigularis, will go extinct as well. Developing the mine would jeopardize other, already endangered species.

The mining activity would eliminate all vegetation in the mined area, essentially annihilating the entire local ecosystem. It will require the stripping of about 450,000 acres of Southern Amazon cloud forest, home to the Shuar indigenous people.


Other impacts

Labor Issues
In May 2012, the President of Certero, a Shuar community, denounced the President of the Republic and the Minister for Industrial Relations for the unfair labour practices committed by an official of the mining company Ecuacorriente. On the morning of May 24, 2012, company officials assaulted local residents (source communication May 25, 2012, signed by the President of the Shuar Community of Certero).

The existence of these abusive practices has been known since October 2012, with the cessation of 200 workers at ECSA. These workers were a part of the union, "Takamamu" Mirador. The workers hoped to use the strike as a way to leverage the firm into reaching a collective agreement. On May 17, 2014, there was another work stoppage, which ended with the dismissal of eleven workers who belonged to the union.

Financiers
Institution type
Finance type
Year

For finance information of China Railway Construction Company click here.

For finance information on Tongling Nonferrous Metals Group, click here.

Companies

China Railway Construction Corporation - CRCC

China
Website

Ecuacorriente - ECSA

Ecuador
Website

Tongling Nonferrous Metals Group Company Limited

China
Website
No companies
News
BankTrack
Partners
Blog
External
BankTrack news BankTrack blog Partner news Partner blog

Ecuador Opens Chinese-Owned Copper Mine Despite Resistance

2015-12-23 | democracynow.org
BankTrack news BankTrack blog Partner news Partner blog

Was this indigenous leader killed because he fought to save Ecuador's land?

2015-06-02 | The Guardian
BankTrack news BankTrack blog Partner news Partner blog

¿Quién mató a José Tendetza?

2014-12-04 | Plan V
BankTrack news BankTrack blog Partner news Partner blog

What good are China's green policies if its banks don't listen?

2014-05-16 | Guardian
BankTrack news BankTrack blog Partner news Partner blog

Chinese banks ignore pleas of Ecuador mining campaigners

The failure to respond to an NGO letter challenging investment in the Mirador mining project has played to Ecuadorian fears about China's growing clout
2014-05-14 | Beijing | China Dialogue
BankTrack news BankTrack blog Partner news Partner blog

EcuaCorientes Derroca San Marcos en Tundayme, Zamora Chinchipe

2014-05-13 | Equador | Accion Ecologica
BankTrack news BankTrack blog Partner news Partner blog

China's 'going out' companies must tread the earth more lightly

2014-02-24 | South China Morning Post
BankTrack news BankTrack blog Partner news Partner blog

China's 'going out' companies must tread the earth more lightly

2014-02-24 | The South China Morning Post
BankTrack news BankTrack blog Partner news Partner blog

“To get the gold, they will have to kill every one of us”

2013-02-10 | Salon
BankTrack news BankTrack blog Partner news Partner blog

Ecuador indigenous protesters march against mining

2012-03-08 | BBC
BankTrack news BankTrack blog Partner news Partner blog

Ecuadorian women lead protests against Chinese-financed Canadian project

2012-03-06 | Channel News Asia
Resources
Documents
Images
Videos
Links
2014-11-25 00:00:00

Going out, but going green?

Assessing the implementation of China's Green Credit Guidelines
BankTrack publication
2014-11-25 00:00:00 | BankTrack, Friends of the Earth US
2014-05-20 00:00:00

Factsheet Mirador Mine

NGO document
2014-05-20 00:00:00 | Protect Ecuador
2014-05-20 00:00:00

Mineral Extraction and Conflict in Cordillera del Cóndor, Ecuador

NGO document
2014-05-20 00:00:00 | Accion Ecologica
2012-12-01 00:00:00

La minería a gran escala como factor de desplazamiento

Other document
2012-12-01 00:00:00 | Francisco Xavier Hurtado Caicedo
2011-04-28 00:00:00

Environmental Ministry audit on impact of Ecuacorriente on dicplacement of local people

Other document
2011-04-28 00:00:00

El Mirrador

2014-05-20

EcuaCorriente Response to accusations

In Spanish.
2014-05-20 12:18:46

Video links

https://www.theguardian.com/world/2015/jun/02/ecuador-murder-jose-tendetza-el-mirador-mine-project

The case for Rights of Nature in face of the Mirador Open Pit Copper Mining Project

Global Alliance

PROYECTOS MINEROS A GRAN ESCALA Y VULNERACIÓN DE DERECHOS HUMANOS

CEDHU - Comision Ecumenica de Derechos Humanos

CEECEC - Mineral Extraction and Conflict in Cordillera del Cóndor, Ecuador

Updates

2016

2016-06-27 00:00:00 | Production planned to start in 2018

Chinese firm Ecuacorriente plans to start production at Mirador, Ecuador's second largest known copper deposit, by 2018. The mine will reach its full potential by 2020 with a projected output of some 30,000 t/d of copper concentrate, mining minister Javier Cordova told Argus.

2014

2014-05-20 00:00:00 | 120 Mirador workers protest Ecuacorriente for labor violations

*Google Translation

A group of workers in the mining Ecuacorriente met yesterday for about five hours with representatives of the Chinese company and the Minister for Employment Relations, Carlos Marx Carrasco, who was accompanied by advisers.

The purpose of the meeting was to reach an agreement on making the camp by 120 workers Mirador mining project in the area of ​​San Carlos , Tundayme parish in Zamora. The company workers occupied the premises on Saturday for alleged labor violations.

El Mirador project has 2.9 million tons of copper reserves, valued at about USD19 billion. It is the only project of large-scale mining taking place in the country , by the Chinese company Ecuacorriente, who signed a contract with the Ecuadorian government in March 2012 for the exploitation of the copper deposit. It plans to put produce from next year.

However, the 120 workers took the camp and halted work on the weekends because they believe that there are abuses by the Chinese firm. According to the secretary of the company Ecuacorriente, Carlos Neichal , the company fired the eight leaders of the workers who took possession of the new policy committee last April .

Original article in Spanish.

2014-05-20 00:00:00 | Community property destroyed

In 2014, Accion Ecologica repeatedly requested information from the Chinese Embassy regarding Chinese lending to El Mirador. The Embassy in Quito provided a phone number for Accion Ecologica to call. Numerous attempts to call over one and a half months were made. However, as of May 2014, nobody has ever answered the phone. On May 12, the community of San Marcos in La Cordillera del Condor reported the presence of police and security guards. Residents reported that workers brought in machinery and equipment for the mine and in the process destroyed community property, such as the playground.

2014-03-20 00:00:00 | No replies from Chinese banks

In March 2014, packages mailed to Industrial Construction Bank of China and Construction Bank of China were returned. These banks were not reachable by fax or email despite several attempts to send a copy of Accion Ecologica's concerns to them. Bank of China responded to ask for a Spanish version of Accion Ecologica's concerns. However, after sending a copy to them, no reply has been heard since

2014-02-20 00:00:00 | NGOs voice concerns to Chinese banks

In February 2014, Chinese banks financing El Mirador, were notified of the environmental and social problems of the project. Accion Ecologica, indigenous peoples, and other Ecuadorean NGOs collectively voiced concern in their request to know how Chinese banks were implementing the Green Credit Directive, and how lenders were evaluating Tongling Nonferrous in light of Ecuacorriente's illegal behaviour.

2013

2013-03-20 00:00:00 | Protest march

In March 2012, local activists embarked on a two week march to protest Chinese investment in El Mirador. While delivering a letter to the Chinese Ambassador, female activists waited hours to see the ambassador, only to be evicted by police.

2013-02-20 00:00:00 | Lawsuit on violation of Rights of Nature

In February 2013, Ecuadorean NGOs filed a lawsuit against Ecuacorriente on the basis the Mirador copper development would violate the Rights of Nature, which is enshrined in the Ecuadorean Constitution.

2012

2012-03-29 00:00:00 | Protest against Chinese investments

In March 2012, local activists embarked on a two week march to protest Chinese investment in El Mirador. While delivering a letter to the Chinese Ambassador, female activists waited hours to see the ambassador, only to be evicted by police.

Send feedback on this profile
Sections
Banks Policies Dodgy Deals Campaigns
Our campaigns
Banks and Climate Banks and Human Rights Banks and Nature Banks and Pandemics
Our projects
Tracking the NZBA Banks and Putin's war in Ukraine Tracking the Equator Principles Tracking the PRBs Find a Better Bank Banks and the OECD Guidelines
Media
News Publications
Fossil Banks No Thanks StopEACOP Forests & Finance Banks & Biodiversity Drop JBS Bank of Coal Don't Buy into Occupation
BankTrack
About BankTrack Visit us Organisation Our team Our board Guiding principles Team up with us Jobs at BankTrack Our annual reports Funding and finances History BankTrack in the media Our privacy policy Donate
Successes Contact BankTrack
Vismarkt 15
6511 VJ Nijmegen
The Netherlands
Tel: +31 24 324 9220
Contact@banktrack.org
Donate Mailing list Facebook Twitter
©2022 BankTrack
BankTrack is a registered charity in the Netherlands (ANBI) - RSIN 813874658
Find our privacy policy here

Stay up to date

Sign up now for all BankTrack's news


Make a comment

Your comment will be reviewed, before being posted