Mar. 23, 2020

Fredy Salazar


Fredy Salazar

CEO, Salazar Resources

Fredy Salazar talks to TBY about Ecuador's geological potential and short-term plans.


Fredy Salazar is CEO of Salazar Resources.

Being located in the Andean mountains, Ecuador has great geological potential. As a result, many large projects are being discovered in Ecuador. The main challenges in Ecuador are social and environmental issues, which are the same as in the rest of the world. However, in Ecuador mining company still have to work to create a culture of responsibility that can be filtered down across society, focusing on the fact that responsible mining with international standards can work to the benefit of the country, the same way it works in neighboring countries. In this context, Salazar Resources started its own projects in Ecuador, financed largely by international investors through a listing on the Toronto Venture Exchange in 2007. We made a new deposit discovery at Curipamba, and continued exploration there for several years also starting joint venture agreements with foreign companies operating in Ecuador. Thus far, we have developed three projects, including the Curipamba project, a volcanogenic massive sulfide district located in central-west Ecuador in the Western Mountain range, where the company owns seven concessions of about 30,000ha. We also have other projects in the exploration stage in Ecuador, which offers the investors of Salazar the great opportunity to obtain a new development project. In the short term, we will focus on our main discovery, the El Domo deposit in the Curipamba project. We expect El Domo to start operating in three years' time. Over this time, we will carry out the feasibility studies and then start construction. Our technical team is based in Quito, though our shareholders are in London and Canada. Our main objective is to keep making discoveries in Ecuador, as we have a competitive advantage by being Ecuadorian and the geology is some of the most prospective geology in the world. We also have a subsidiary in Colombia, where Salazar Resources has applied for five mining concessions in department of NariƱo, with a total of 25,000ha.