Key Highlights
- Atico Mining received Ecuadorian approval to move La Plata into the exploitation phase.
- The resolution authorizes construction and later mining operations at the La Plata concession.
- Atico plans to start construction in the first quarter of 2027, according to the company.
Atico Mining Corporation (TSXV: ATY | OTCQX: ATCMF) said Ecuador’s Ministry of Energy and Mines has issued a Change of Phase Resolution approving the La Plata concession for underground and medium-scale exploitation.
The company said the resolution moves La Plata’s legal status from the Economic Evaluation Phase to the Exploitation Phase, which authorizes the start of construction and the subsequent operation of a mine.
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Atico Chief Executive Officer and Director Fernando E. Ganoza described the change-of-phase resolution as the final major permission needed to begin construction at La Plata.
Atico said construction at La Plata is planned to begin in the first quarter of 2027. The company also provided employment estimates, including more than 600 direct jobs during construction and more than 300 direct jobs once in commercial production, along with ranges for indirect employment at each stage.
In the release, Atico described itself as focused on exploring, developing and mining copper and gold projects in Latin America. It said it generates cash flow from its El Roble mine and is developing the La Plata volcanogenic massive sulphide project in Ecuador.
The original press release is available on stockhouse.com
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