BHP Billiton advances hunt for copper in Ecuador

Melbourne

BHP Billiton Ltd, the world's biggest miner, has opened an office and is seeking to add staff in Ecuador as it advances a search for copper in a nation that's becoming the sector's exploration hot-spot.

Melbourne-based BHP's local unit, Cerro Quebrado, will spend about US$82 million on exploration, having established a base in the capital, Quito, and advertised for workers including a senior geologist. The value of Ecuador's mining sector could rise to US$7.9 billion by 2021 from US$1.1 billion this year as major players arrive, according to Fitch Group's BMI Research.

BHP joins Australian competitors including billionaire Gina Rinehart's Hancock Prospecting Pty, Fortescue Metals Group Ltd and Newcrest Mining Ltd in establishing offices or adding exploration licences in the nation, according to Rodrigo Izurieta, president of Ecuador's Mining Chamber. The miners are attracted by expectations that the country holds major, undiscovered copper and gold d…