TBY SIGNS MOU WITH THE MINING CHAMBER OF ECUADOR

Quito, October 24, 2019—Representatives from TBY and the Mining Chamber of Ecuador signed an MoU to establish a strategic partnership as part of the former's plans to expand its coverage of the Ecuadorian economy and produce a higher volume of market intelligence on key sectors of the Ecuadorian economy, such as mining. The content will be featured in TBY's upcoming publication, The Business Year: Ecuador 2020, and in its Special Report: Mining in Ecuador.

2019 is crucial for Ecuador's mining industry as the country's first mega mining projects, Mirador and Fruta del Norte, will enter the production phase. The two projects combined have the potential to contribute up to 2% to GDP. In an interview with TBY, Carlos Pérez, the Minister of Energy and Non-Renewable Resources, noted that until 2021, USD3.8 billion in investments is set to flow into the mining sector. Located in the Andes region, Ecuador's mining potential remains largely unexplored and untapped, and this has attracted a number of big international players to enter the country. Yet, the regulatory framework still implies challenges, in particular the requirement to have prior consultations with local communities before developing the mine.

The MoU was signed after taking into consideration TBY's experience as a global media group that has been providing investors, businesses, and governments with first-hand insights into the world's most dynamic markets and sectors for over a decade, and the Mining Chamber of Ecuador's position as the representative entity of all mining companies in the country. The partnership was formed in the light of the mutually shared objective of highlighting business opportunities in Ecuador and contributing to the consolidation of a promising mining sector. The Business Year's Special Report: Mining in Ecuador will be an interview-based publication that will address investment opportunities, responsible practices, and economic impact. The report will increase local awareness regarding the benefits of responsible mining and represent the sector internationally, at events such as PDAC 2020, Expo Minas, and Cesco Week, among others.

The Business Year's Special Report: Mining in Ecuador will be released worldwide in February 2020. TBY's first-hand research reaches key international investors and members of the global business community, targeting international financial institutions, international corporations, investors, accountancy firms, industrial conglomerates, and governmental organizations. Special Report: Mining in Ecuador will be distributed extensively, both domestically and globally, and will reach an even larger audience via TBY's powerful network of digital platforms. All interviews and content will be also available on the key business information platforms: Bloomberg Terminal, Thomson Reuters Eikon, Dow Jones Factiva, and FactSet.