The Central Bank of Ecuador (BCE) has allocated $573 million to purchase gold from artisanal and small-scale miners over the past ten years, marking a decade of its gold commercialization program.
The initiative, which pays producers prices close to international market rates, integrates the acquired metal directly into the country's international reserves.
This long-term strategy formalizes a historically informal sector while bolstering the nation's foreign exchange holdings.
The program represents a significant structural shift in Ecuador's mining sector, providing a regulated channel for small-scale operators to sell their output.
By anchoring purchase prices to global benchmarks, the BCE ensures that local miners receive competitive compensation while the state secures a steady inflow of hard assets.
The accumulated gold now forms a tangible component of Ecuador's reserve portfolio, diversifying away from purely currency-based holdings.