Updated:
Solaris Resources
Richard Warke's Solaris Resources is advancing the 1.5B-tonne Warintza copper discovery in Ecuador with backing from the Lundin family trust and Zijin...
Solaris Resources
Solaris Resources was formed in 2018 by an experienced team led by Executive Chairman Richard Warke, whose previous ventures include the successful exits of Ventana Gold and Augusta Resource. The company was purpose-built to acquire and advance the Warintza copper-gold project in Ecuador's southeastern Zamora-Chinchipe province. Rather than assembling a broad exploration portfolio, Solaris concentrates nearly all its technical and financial resources on expanding the Warintza cluster of porphyry deposits. The company's strategy revolves entirely around drilling out the Warintza Central, Warintza East, and Warintza South targets. Solaris has focused on rapidly growing the resource base through successive drill campaigns, with the April 2022 mineral resource update showing 1.5 billion tonnes of indicated resources and 1.0 billion tonnes of inferred resources, grading 0.47% and 0.42% copper equivalent respectively. The firm has consistently expanded its land position in the district, underlining a strategy of consolidating the entire porphyry cluster. Geographically, operations are centered in Ecuador, with corporate management in Vancouver. Funding for the multi-year drill program has come through equity raises and a 2022 strategic investment from an affiliate of the Zijin Mining Group, one of China's largest mining companies, which purchased a 15% stake for roughly C$130 million. The company also benefits from a long-term relationship with the Lundin family trust, which is a meaningful shareholder. In July 2023, the company strengthened its technical bench by appointing Javier Toro, a former executive from the giant Cobre Panama mine, as Chief Operating Officer. To support community relations, Solaris operates a wholly-owned Ecuadorian subsidiary, Lowell Mineral Exploration Ecuador S.A. Solaris differs structurally from most junior copper explorers by operating a single-project company with a balance sheet designed to see the asset through feasibility rather than farming it out to a major. The Lundin family's equity commitment and the Zijin strategic investment provide both technical validation and a non-dilutive capital path. This creates a governance structure where patient family capital anchors the register, insulating the technical team from short-term market swings while they systematically de-risk a generational copper discovery.
General information
Firm type
Asset Manager
Year founded
2018
AUM
Undisclosed
Location
Region
North America
Country
Canada
City
Vancouver
Corporate office
Vancouver, BC, Canada
Additional offices
Quito, Ecuador
Principals
Daniel Earle
President & CEO
Richard Warke
Executive Chairman
Federico Velásquez
President, Latin America
Sector focus
Frequently asked questions
Who controls Solaris Resources and makes investment decisions?
The company is led by President and CEO Daniel Earle, who oversees day-to-day operations. Executive Chairman Richard Warke provides strategic direction and is the founder. Major investment decisions are subject to board approval, which includes representatives from the Lundin family trust, a long-term investor in Warke-led mining ventures.
Is Solaris a diversified explorer, or does it operate as a single-project company?
Solaris operates almost exclusively as a single-project company, concentrating all technical and financial resources on the Warintza copper-gold porphyry cluster in southeastern Ecuador. The company has expanded the property position within the district but has not acquired any other material exploration assets outside the Warintza project area.
How is Solaris Resources capitalized, and who are its major financial backers?
Capitalization comes from equity markets in Canada and a strategic December 2022 placement with an affiliate of China's Zijin Mining Group, which acquired a 15% stake for approximately C$130 million. Additionally, the Lundin family trust — long-time supporters of Richard Warke's ventures — maintains a significant equity position, creating a shareholder base that blends strategic industrial capital with patient family money.
What is the current size and status of the Warintza resource?
The most recent mineral resource estimate, published in April 2022, outlined 1.5 billion tonnes in the indicated category at 0.47% copper equivalent and an additional 1.0 billion tonnes inferred at 0.42% copper equivalent across the Warintza Central, East, and South deposits. Ongoing drilling continues to expand the resource base ahead of a planned feasibility study.
What is Solaris Resources' relationship with the Lundin family?
Richard Warke has partnered with the Lundin family trusts across multiple mining ventures, including previous successful exits at Ventana Gold and Augusta Resource. The Lundin family trust holds a material equity stake in Solaris and maintains board representation, providing both geological validation and long-term patient capital.
Does Solaris maintain any philanthropic or social-development structures in Ecuador?
The company operates its Ecuadorian field programs through Lowell Mineral Exploration Ecuador S.A., which runs community-relations programs in the Warintza district, including local employment, procurement, and infrastructure improvements. While not structured as a separate philanthropic foundation, these social programs are integral to the operating license of the project.
How far along is Solaris toward a mine-construction decision?
Solaris remains in the advanced exploration and resource-definition phase. The company is drilling to expand the deposit and producing a preliminary economic assessment, but has not yet released a feasibility study or committed to mine construction. A development timeline will depend on future study results, permitting progress, and copper-price conditions.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
Need institutional-grade insight on asset managers?
Altss delivers:
Prefer a guided tour?
We’ll walk you through: