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Lundin Gold guidance on track despite Ecuador protests

Thursday, July 7th, 2022

Canada-based Lundin Gold’s operations were largely unimpacted by the recent national protest in Ecuador, but gold shipments and sales have been impacted by blockades on major highways.

In the second quarter, Fruta del Norte produced 111 890 oz, up from the 108 799 oz produced a year earlier.

Gold sales, however, fell to 96 291 oz, from 125 412 oz sold in the same quarter last year.

“The recent period of national protests was challenging for the people of Ecuador. I am very proud of how the team at Fruta del Norte managed the challenge with minimal impact on operations,” said CEO Ron Hochstein.

The 18 days of often-violent strikes ended on June 30, after the government and the country’s main Indigenous group reached an agreement to end the protest action that virtually paralysed the country and killed at least four people.

Lundin said it remained on track to achieve or exceed its guidance for the year. 

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