Ecuador and the Luoyang Molybdenum Company subsidiary sign a $1.7 billion mining project agreement.

According to the Ecuadorian government's statement, the Ecuadorian government has signed an agreement with ODIN Mining del Ecuador, a subsidiary of Luoyang Mo Industry, for the "Los Cangrejos" project. Ecuador has obtained over 50% of the shares in this project. The project is located in the El Oro province of Ecuador.