Editor’s Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today’s must-read news and expert opinions. Sign up here!
(Wallace Refiners) – Atico Mining (TSX.V: ATY) announced Thursday that it has received approval of the Environmental Impact Assessment (“EIA”) for the construction and operations of its La Plata gold-copper-zinc-silver mining project located in Ecuador.
“The La Plata project has been identified by President of Ecuador, Guillermo Lasso as a strategic project and a component of the country’s reactivation plan. As a part of this plan, President Lasso has committed to accelerating the restart of the country’s economy by leveraging the potential of its mining industry while positioning Ecuador as a major mining investment destination in Latin America,” the company said in a statement.
The company added that the EIA baseline process started over 3 years ago and involved independent environmental experts as well as qualified professionals mostly from Ecuador, Canada, Peru as well as from its El Roble mine operation which has been recognized as one of the safest mines in Colombia.
According to a press-release, the La Plata project plan consists of a 900 tpd underground mining operation with state of the art infrastructure, the most significant infrastructure being the construction of a filtered tailings facility a first of its kind in Ecuador.
This technology, already used at our El Roble mine in Colombia, allows for efficient use of water by significantly reducing water consumption through recirculating almost all of the water needs for the processing plant.
Atico said that approval of the EIA is a key milestone towards allowing the company to begin construction of the new process plant facility, adding that this approval enables the company to advance on its normal course in order to complete the underlying licences and secondary permits necessary.
Atico is focused on exploring, developing and mining copper and gold projects in Latin America. The company generates significant cash flow through the operation of the El Roble mine in Colombia and is developing its high-grade La Plata VMS project in Ecuador.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Wallace Precious Metals The author has made every effort to ensure accuracy of information provided; however, neither Wallace Precious Metals nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Wallace Precious Metals and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
