The Chinese company Jiangxi Copper Company Limited (JCC) has finalized its acquisition of SolGold, effectively taking over control of the Cascabel project, a world-class gold and copper deposit situated in the Imbabura province of Ecuador. This significant transaction, which has been in progress since 2025, received its final approval from a London court on March 2, 2026. The acquisition agreement officially came into effect on March 4, following advisory by financial firm Admiralty Harbour Capital, which confirmed the successful transaction.

The total value of the acquisition reached 867 million euros, equivalent to approximately 1.16 billion dollars. According to Admiralty Harbour Capital, the deal was backed by major SolGold shareholders, including industry giants BHP and Newmont, and was unanimously recommended by SolGold's board of directors. This acquisition not only showcases the increasing investment interest from Chinese companies in the mining sector but also reflects the strategic importance of the Cascabel project, which is expected to play a significant role in Ecuador's mining industry.

With the successful acquisition of SolGold, Jiangxi Copper Company is now positioned to proceed with the construction and development of the Cascabel mine, which is anticipated to bring considerable economic benefits to the local community in Ibarra and the broader region. This move could establish Ecuador as a critical player in the global mining market, especially in terms of gold and copper production, and highlights the ongoing trend of foreign investment in the country's natural resources sector.