KEY POINTS
- Atico secures final major approval for its La Plata mine.
- Construction is expected to begin in Q1 2027.
- Annual output is projected at 10 million pounds of copper, 13 million pounds of zinc and 16,000 ounces of gold.
Canadian mining company Atico Mining Corporation has secured government approval to begin construction and eventually operate its La Plata underground mine in Ecuador, clearing a major regulatory hurdle for the project.
The approval authorises the company to move the La Plata concession from the economic evaluation phase to the exploitation phase, allowing it to begin mine construction and proceed towards commercial operations.
The company, listed on the TSX Venture Exchange, said the approval covers underground and medium-scale mining activities at the concession.
Government approval clears way for construction
The approval, known as a change of phase resolution, represents the final major permit required for Atico to begin developing the project.
Atico CEO Fernando Ganoza welcomed the decision, saying it followed extensive work by the company’s local team to secure the necessary permits and government approvals.
He said the company was now ready to move towards construction and develop what is expected to become a new gold and copper mine in Ecuador.
Ganoza added that the company intends to advance the project responsibly while creating value for its stakeholders.
Construction expected to begin in 2027
Atico plans to commence construction at La Plata in the first quarter of 2027. Once operational, the mine is expected to produce an average of 10 million pounds of copper and 13 million pounds of zinc annually. It is also projected to produce approximately 16,000 ounces of gold each year.
The planned output will make La Plata a producer of multiple metals, including copper, zinc and gold, which are used across industrial, manufacturing and other economic activities.
Project expected to support Ecuador’s economy
The Ecuadorian government considers La Plata a strategic asset because of its potential economic and social benefits.
The construction and operation of the mine are expected to generate employment, contribute tax and royalty revenues and support economic activity in the surrounding region.
For Atico, the latest approval marks an important step towards turning the project into an operating mine after completing the required regulatory process. The company will now focus on preparing for construction ahead of its planned start in early 2027.
