Cangrejos is a 100%-owned CMOC development project in El Oro Province comprising the adjacent Cangrejos and Gran Bestia open-pit deposits. The April 2023 PFS outlined staged processing at 30,000 t/d, 60,000 t/d and ultimately 80,000 t/d through copper flotation and a hybrid CIL circuit. CMOC completed the acquisition of Lumina Gold in June 2025 and is advancing feasibility-level design. Ecuador signed the exploitation contract in April 2026, enabling CMOC to pursue the environmental licence and construction permits. CMOC's latest public target is to commence operations before the end of 2029. A CMOC subsidiary exercised the contractual 33% buyback of Wheaton's Cangrejos stream on September 16, 2025 for $102 million, leaving Wheaton with 67% of its original stream interest.
- Country
- Ecuador
- Commodity
- Au
- Stage
- Feasibility