IBOV 186,340.46 ▲ 1.37% IPSA 10,969.49 ▼ 0.78% IPC MEX 64,951.10 ▼ 0.24% MERVAL 2,819,323 ▲ 1.32% COLCAP 2,549.16 ▼ 0.38% BVL PERÚ 60,410.88 ▼ 0.96% USD/BRL5.16▼ 0.23% USD/MXN18.09▲ 0.10% USD/CLP972.03▼ 0.10% USD/COP3,293▼ 1.23% USD/PEN3.45▲ 0.46% USD/ARS1,525▼ 0.03% USD/UYU40.24▲ 3.53% USD/PYG5,817▲ 2.23% USD/BOB11.97▲ 2.29% USD/DOP59.50▲ 3.19% USD/CRC454.26▲ 2.84% USD/GTQ7.64▲ 3.21% USD/HNL26.86▲ 3.22% USD/NIO36.62▲ 2.66% USD/VES858.02▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD 157.28 — 0.00% USD/TTD6.72▲ 2.19% EUR/BRL5.85▼ 0.81% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73% IBOV 186,340.46 ▲ 1.37% IPSA 10,969.49 ▼ 0.78% IPC MEX 64,951.10 ▼ 0.24% MERVAL 2,819,323 ▲ 1.32% COLCAP 2,549.16 ▼ 0.38% BVL PERÚ 60,410.88 ▼ 0.96% USD/BRL 5.16 ▲ 0.01% USD/MXN 17.06 ▼ 0.24% USD/CLP 913.98 ▲ 0.04% USD/COP 3,140 ▲ 0.03% USD/PEN 3.36 ▼ 0.66% USD/ARS 1,493 ▲ 0.10% USD/UYU 40.27 ▲ 1.24% USD/PYG 5,939 ▲ 1.68% USD/BOB 11.64 ▼ 0.76% USD/DOP 58.34 ▲ 1.25% USD/CRC 445.92 ▲ 0.89% USD/GTQ 7.62 ▲ 2.21% USD/HNL 26.79 ▲ 1.57% USD/NIO 36.62 ▲ 0.69% USD/VES 762.44 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.28 — 0.00% USD/TTD 6.70 ▲ 0.61% EUR/BRL 5.95 ▲ 1.01% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73%
since 2009
Thursday, October 1, 2026

Ecuador Illegal Mining Raids Cost Gangs US$1.8 Million in Four Provinces

By · October 1, 2026 · 5 min read

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ECUADOR · SECURITY

Key Facts

  • —What happened Soldiers and police ran seven simultaneous raids on illegal mining sites in four Ecuadorian provinces over 48 hours, the Defence Ministry said on 30 September 2026.
  • —The estimate The ministry put the damage to criminal groups at about US$1.83 million; El Comercio reported more than US$1,869,100, close to US$2 million.
  • —Where The raids hit Azuay, Carchi and Imbabura in the Andes and Morona Santiago in the Amazon region.
  • —The bigger count From 1 January to 10 September 2026, the ministry says, forces destroyed 1,119 mining camps and 1,748 mine entrances.
  • —Still open The ministry has not said how it values the losses, and no arrests were reported for these raids.

Ecuador illegal mining remains a main source of gang money, and the state keeps raiding camps while gold trades near record prices.

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Ecuador illegal mining - Repair work over a sinkhole linked to illegal mining in the town of Zaruma, southern Ecuador
Repair work over a mining sinkhole in Zaruma, southern Ecuador, a town undermined by illegal gold tunnels.
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Soldiers and police ran seven simultaneous raids on illegal mining in four Ecuadorian provinces, the Defence Ministry said on 30 September. It estimated the damage to criminal groups at about US$1.83 million, close to US$2 million in some reports.

Seven raids in 48 hours

The operations took place over the previous 48 hours in Azuay, Carchi and Imbabura, three provinces in the Andes. The fourth, Morona Santiago, lies in the Amazon region near the border with Peru.

Carchi lies on the border with Colombia. Azuay’s capital, Cuenca, has a large community of foreign retirees, while the raids targeted remote mining areas in the countryside.

Troops and police dismantled camps and bocaminas, the entrances to underground mine shafts. They also disabled or seized machinery, fuel, tools and other supplies, El Comercio and La República reported.

The work was done by the Security Bloc, which joins the armed forces, the National Police and the National Intelligence Centre. Ecuador uses the US dollar as its currency.

What the money figure means

The Defence Ministry, quoted by the EFE news agency in La República, put the damage at about US$1.83 million. El Comercio reported a figure of more than US$1,869,100.

This is the value the state assigns to destroyed camps, equipment and material. It is not cash that the government has seized or recovered.

“Gold should create opportunities for people, not millions for the mafias,” the ministry said. It did not say how it values the losses, and no arrests were reported for these raids.

Ecuador illegal mining - Mountain valley landscape in Imbabura province, northern Ecuador
The Andean valleys of Imbabura province in northern Ecuador, one of four provinces where the latest raids took place.

Part of a year-long offensive

These raids continue a campaign under President Daniel Noboa that has used artillery and aircraft against mining camps. In September the army fired rockets at illegal gold mines in Imbabura province.

From 1 January to 10 September 2026, the ministry says, forces destroyed 1,119 camps and 1,748 mine entrances. They disabled 590 excavators, 537 sorting machines and 395 dredges, and seized 54,954 sacks of gold-bearing material.

The ministry values that damage at US$4.66 billion. That is its own estimate, not an audited figure.

Why gangs want gold

Ecuador stepped up its raids after 11 soldiers were killed in an ambush in the Amazon in May 2025, La República reported. The government blamed the Comandos de la Frontera, dissidents of Colombia’s former FARC guerrilla army.

It also links that group to Los Lobos, Ecuador’s largest criminal gang. Gold attracts such groups because prices are high and the metal is hard to trace, El Comercio wrote.

Illegal mining also clears forest and pollutes rivers with mercury and other heavy metals. That damage, the newspaper noted, is not included in the economic estimates.

Ecuador illegal mining - The colonial centre of Cuenca in the Ecuadorean Andes
Cuenca, capital of Azuay province and home to many foreign retirees; the raids targeted remote mining areas in the countryside.

The legal mining sector’s view

María Eulalia Silva leads the Ecuadorian Chamber of Mining, which represents formal mining companies. She called the state offensive “very positive”, El Comercio reported.

But she said raids alone are not enough. Judges, prosecutors, lawmakers and the financial intelligence unit must follow the money, the mercury and the machinery, she argued.

Formal mining is growing fast. Silva said mining exports reached US$2.6 billion in the first half of 2026 and could reach US$5 billion by year-end.

Mining was already Ecuador’s third-largest export in the first quarter of 2026, worth US$1.381 billion, El Comercio reported in May. Silva credits the rise mainly to international prices, especially for gold.

Gold rose above US$5,500 an ounce in January and still trades above US$4,000, she said. Investors, she added, need legal certainty that rules will not change during a project’s life.

A problem that crosses borders

In an editorial on 30 September, El Comercio said illegal gold exports had earned criminal groups more than US$1 billion. It argued that no country can fight the trade alone.

Ecuador and Peru already coordinate against illegal mining, including mirror military operations on each side of the border. The newspaper called for shared financial intelligence and regional tracking of gold.

What comes next

The raids show the state can reach remote mining zones. El Comercio warned that if the supply chains survive, gangs keep the capacity to rebuild their operations.

For investors in Ecuador’s legal mining sector, security and stable rules will decide where new capital goes.

Frequently Asked Questions

How much did illegal mining gangs in Ecuador lose?

The Defence Ministry estimated about US$1.83 million from seven raids reported on 30 September 2026. El Comercio reported more than US$1,869,100, close to US$2 million. The figure is a state valuation of destroyed assets, not seized cash.

Where were the raids against Ecuador illegal mining?

They took place in Azuay, Carchi and Imbabura in the Andes and in Morona Santiago in the Amazon region. Soldiers and police dismantled camps and mine entrances and disabled machinery.

Who runs illegal mining in Ecuador?

The government links it to criminal groups such as Los Lobos, Ecuador’s largest gang. It also blames the Comandos de la Frontera, dissidents of Colombia’s former FARC guerrillas, and high gold prices keep the trade attractive.

Sources: El Comercio · La República (EFE) · El Comercio (mining chamber) · El Comercio (editorial) · Ministry of Defence of Ecuador

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