Atico Mining Corporation has garnered government approval for underground and medium-scale exploitation at the La Plata concession, in Ecuador.
The “change of phase resolution” approval for La Plata advances the project’s legal status from the economic evaluation phase to the exploitation phase, authorising the start of construction and subsequent operation of the mine.
Atico CEO Fernando Ganoza says the company is pleased to reach this final major permission that was required to start breaking ground at the La Plata project.
“Successful conclusion of this final step is a strong testament to our on-the-ground team, whose tireless efforts and capabilities secured all major permits and approvals to begin construction.
“We are thrilled to advance responsibly towards construction, develop Ecuador’s next gold and copper mine, and create significant value for all our stakeholders,” Ganoza adds.
The Ecuador government considers La Plata a strategic asset owing to its economic and social relevance, with its construction and operation poised to offer tax and royalty benefits, employment opportunities and economic growth in the region.
Atico plans to start construction on La Plata in the first quarter of 2027, with planned yearly production expected to average ten-million pounds of copper, 13-million pounds of zinc and 16 000 oz of gold every year.