According to Mining.com, Marimaca Copper reported that its oxide copper mine project in the Antofagasta Region of Chile has obtained environmental approval, moving a step closer to mine construction.
The Marimaca Oxide Deposit, also known as MOD, is an open-pit, heap-leach project capable of producing 50,000 mt of copper cathode annually over a 13-year production life. The mine is designed to use a conventional yet-to-be-optimized mining method (Solvent Extraction and Electrowinning) and minimize environmental impact by recycling seawater from Mejillones Bay.
In December last year, Marimaca submitted its Environmental Impact Study (EIS) to Chilean authorities, successfully addressing concerns about the project's potential impact on local communities.
The Canadian copper developer stated that the approval of the EIS was "the result of extensive preparation and consultation, including years of environmental baseline studies, social and archaeological data collection, engagement with multiple stakeholders, and various technical and project engineering studies."
Construction Is Expected to Begin
The company added that the EIS approval represents another strategic step toward starting construction at MOD, with the mine expected to commence production in H2 2026. The company is currently pursuing other permits for the project before making a final investment decision.
"Developing our assets in Chile to the highest environmental and social standards possible is a core objective for Marimaca," said Jose Antonio Merino, Director of Economics and Chief Financial Officer of Marimaca Copper.
On the 11th, BMO Capital Markets noted that this milestone represents further de-risking for MOD, pointing out that the project was approved in less than a year.
Pampa Medina Drilling
Additionally, Marimaca provided the final batch of drilling results from the Pampa Medina satellite deposit, located about 28 km east of MOD, which will form part of the company's MOD-centric development strategy.
Marimaca stated in a press release that new intersections, such as 16 m at 2.29% copper from 464 m depth and 6 m at 3.17% copper from 334 m depth, indicate good continuity of the high-grade sedimentary copper horizon in the south, approximately 900 m from previously announced drill holes.
"Exploration at Pampa Medina continues, and we believe a growth strategy targeting long-term annual production exceeding 50,000 mt can be defined in the final feasibility study," said Hayden Locke, President and CEO of Marimaca.
In another note, BMO stated that Pampa de Pongo is "a core part of growth" and will significantly enhance the future production prospects of Marimaca.
