Ecuador refines more than a half-tonne of gold from small miners

Latest stage of gold purchase programme adds $36.1 million to reserves

Central Bank of Ecuador museum
Central Bank of Ecuador money museum, Quito
Rachael King

Ecuador’s central bank announced the refining of nearly 19,000 troy ounces (590.7 kilogrammes) of gold purchased from domestic small-scale miners. According to a July 13 press release, the refined gold is worth $36.1 million, and was incorporated into the country’s international reserves.

The Central Bank of Ecuador launched its domestic gold purchase programme in 2012, and now has two gold purchase offices in Quito and Machala. A third is planned for the city of Zamora.

The central bank

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