[Atico Signs Investment Protection Agreement with Ecuadorian Government for La Plata Project]
On September 17, Atico Mining Corporation announced the signing of an investment protection agreement with the Ecuadorian government to secure the development of its La Plata mining project. Under the agreement terms, Atico Mining will enjoy a 5% reduction in income tax during the agreement's validity period and has the right to seek international arbitration in the event of disputes.
The La Plata mining project is currently in the final stages of obtaining environmental permits and other licenses required by mining and environmental legislation. According to its feasibility study released in 2024, the project has mineral reserves of 2.51 million mt, with average grades of 1.59% for copper and 2.18% for zinc. The project is expected to produce an average of 9.71 million pounds of copper and 13.25 million pounds of zinc annually after commissioning, with a mine life exceeding 8.1 years.