By Alexandra ValenciaQUITO (Reuters) -Ecuador's government has revoked the environmental license granted to Canadian mining company DPM Metals for the development of Loma Larga, a gold project in an environmentally sensitive area, the government said on Saturday. The decision follows strong opposition from residents and local authorities in Azuay province, where Loma Larga is located, who argue that its development would affect the Quimsacocha water reserve, posing significant health risks to local communities. DPM, which acquired the project in 2021, did not immediately respond to a request for comment. The Loma Larga project was expected to receive investments of $419 million for an average annual production of about 200,000 ounces of gold during its first five years of operation, according to DPM. Despite having significant gold and copper deposits, Ecuador has halted mining projects due to recent legal rulings and local opposition.