Ecuador to Tender Giant Copper Mine in 2027

Mining: Ecuador

Enami says it will offer the Llurimagua copper and molybdenum deposit to international miners in 2027, but it has set no price, investment figure or bidding terms yet.

Ecuador’s state mining company Enami (Empresa Nacional Minera) plans to put the Llurimagua copper and molybdenum (a metal used to harden steel) project out to international tender in 2027, its acting general manager, María José Burgos, said on Tuesday, 10 November 2026. She told a mining forum at the Universidad San Francisco de Quito, a private university, that Enami plans to hire an investment bank or consultancy to design the process.

Llurimagua, in the Andes of northern Ecuador, is often described as one of the ten largest copper deposits in the world. It is still in advanced exploration.

What Enami Said in Quito

Burgos said Enami plans to hire an investment bank or consultancy to structure the tender mechanism. She said the bidding rules should be ready in the first half of 2027 and that the tender itself would be announced later in the same year.

She described the roadmap as two points: clear rules and real competition. That means, in her words, a transparent selection process with technical, financial and environmental criteria that is responsible toward nearby communities, and a State that negotiates on equal terms.

No Price Tag Yet

Asked what investment the tender could attract, Burgos declined to give a figure. She said naming an amount before the investment bank or consultancy completes its technical evaluation would limit the project.

The Project in Numbers

Llurimagua lies in the Intag valley of Imbabura province, in Cotacachi canton between the parishes of García Moreno and Peñaherrera. The project covers 4,829 hectares, of which 700 hectares are the planned operating zone, and it is in advanced exploration.

Burgos said that when Ecuadorian mining officials attend major trade fairs abroad, the first question is how Llurimagua is progressing. Enami gave no estimate of the project’s value.

What It Means for Investors and Copper Buyers

For miners, a tender with rules published in 2027 gives a date range to plan around: rules in the first half of 2027, a tender later that year. For copper buyers, supply is distant, because the project is still in advanced exploration.

For a regional comparison, see our report on Peru’s mining outlook. Peru, Ecuador’s southern neighbour, is a major copper producer.

What Is Not Known

Enami has not said who will advise on the tender, what minimum investment bidders must commit, or what the project is worth. The tender launch is described only as 2027, with no month.

Frequently Asked Questions

When will Ecuador tender Llurimagua?

Enami says the bidding rules should be ready in the first half of 2027 and that the international tender would be announced later that year. No month has been given.

How big is the Llurimagua project?

The project covers 4,829 hectares, of which 700 are for mining operations, in Imbabura province, and it is in advanced exploration. The deposit is often described as one of the ten largest copper deposits in the world.

Sources: Enami EP (enamiep.gob.ec), remarks by acting general manager María José Burgos at the Quito mining forum, 10 November 2026.