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Atico Mining is a Canadian-based company that explores and develops mining projects in Latin America. The company recently announced a major milestone with the signing of the Presidential Decree for its La Plata project in Ecuador. The decree establishes the terms and conditions under which Atico Mining can develop the La Plata project. The project is located in the province of Azuay, approximately 70 km southwest of the city of Cuenca, and covers an area of approximately 2,900 hectares.
The La Plata project is a high-grade gold-copper-silver deposit that has the potential to become a significant producer of precious metals. The project has an estimated mineral resource of 20.5 million tonnes, grading 1.51 grams per tonne of gold, 0.79% copper, and 5.9 grams per tonne of silver. Atico Mining plans to develop the project using underground mining methods and expects to produce an average of 105,000 ounces of gold equivalent per year over a mine life of approximately 11 years.
The signing of the Presidential Decree is a significant step forward for Atico Mining as it provides the company with the necessary legal framework to move forward with the development of the La Plata project. The company has indicated that it will continue to work closely with the local communities and stakeholders to ensure that the project is developed in a responsible and sustainable manner.