Atico Mining Obtains Water Permit for the La Plata Project in Ecuador
Rhea-AI Summary
Atico Mining (OTCQX:ATCMF) has secured a crucial water permit from Ecuador's Ministry of Environment, Water and Ecological Transition for its La Plata project. The permit, granted after extensive review, allows water usage for industrial activities including extraction and processing operations.
The approval process involved comprehensive stakeholder engagement, ensuring no impact on local communities' water access. The company must implement technical designs for water management systems, including recirculation and quality monitoring, with engineering plans due by October 2025.
The La Plata project is in its final permitting stage and, once approved, will create significant employment opportunities: 600 direct and 1,200-1,800 indirect jobs during construction, and 300 direct and 600-900 indirect positions during commercial production.
AI-generated analysis. Not financial advice.
Positive
- Obtained critical water permit for La Plata project industrial operations
- Project is at final stage of obtaining environmental license
- Will generate 600 direct and up to 1,800 indirect jobs during construction
- Will create 300 direct and up to 900 indirect jobs during commercial production
Negative
- Engineering plans still pending completion and regulatory approval
- Additional permits still required before construction can begin
News Market Reaction – ATCMF
On the day this news was published, ATCMF gained 1.22%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
VANCOUVER, British Columbia, Oct. 01, 2025 (GLOBE NEWSWIRE) -- Atico Mining Corporation (the “Company” or “Atico”) (TSX.V: ATY | OTCQX: ATCMF) is pleased to announce that the Ministry of Environment, Water and Ecological Transition – MAATE (now Ministry of Environment and Energy) has granted a permit for water use in industrial activities, including extraction and processing, for the La Plata project.
After an exhaustive review process by MAATE and other state agencies, it was confirmed that the water allocation adheres to priority guidelines, ensuring no impact on local communities' water access or its use for agriculture and livestock. The Unified Water Authority also verified compliance with ecological flow requirements to protect aquatic habitats. The process involved local authorities, community leaders, the Ombudsman’s Office, parish Water Boards, and representatives from productive organizations as overseers to ensure no rights of the population are violated.
This permit allows the company to use water for staff consumption, underground mineral extraction, processing plant operations, dust suppression on roads, and environmental mitigation measures, among other activities.
To ensure responsible water management, aligned with the highest national and international standards, the company has the obligation to technically design all the collection, conduction, storage and discharge works. This includes implementing a recirculation system and ongoing water quality monitoring in accordance with regulations. The detailed engineering plans are currently in progress, with completion expected by October 2025, after which they will be submitted to the Unified Water Authority for review and approval.
The La Plata project is at the very last stage of obtaining the environmental license and other permits required by mining and environmental legislation. Once these permits are received, the project will be construction ready. During construction and operation activities, the project will generate more than 600 direct employment positions and between 1200 to 1800 indirect employment positions in the construction stage and more than 300 direct employment positions and between 600 and 900 indirect employment positions once in commercial production.
About Atico Mining Corporation
Atico is a growth-oriented Company, focused on exploring, developing and mining copper and gold projects in Latin America. The Company generates significant cash flow through the operation of the El Roble mine and is developing its high-grade La Plata VMS project in Ecuador. The Company is also pursuing additional acquisition of advanced stage opportunities. For more information, please visit www.aticomining.com.
ON BEHALF OF THE BOARD
Fernando E. Ganoza
CEO
Atico Mining Corporation
Trading symbols: TSX.V: ATY | OTCQX: ATCMF
Investor Relations
Igor Dutina
Tel: +1.604.633.9022
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the ‘‘U.S. Securities Act’’), or any state securities laws, and may not be offered or sold in the United States, or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S of the U.S. Securities Act) unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.
Cautionary Note Regarding Forward Looking Statements
This announcement includes certain “forward-looking statements” within the meaning of Canadian securities legislation. All statements, other than statements of historical fact, included herein, without limitation the use of net proceeds, are forward-looking statements. Forward- looking statements involve various risks and uncertainties and are based on certain factors and assumptions. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs; the need to obtain additional financing to maintain its interest in and/or explore and develop the Company’s mineral projects; uncertainty of meeting anticipated program milestones for the Company’s mineral projects; and other risks and uncertainties disclosed under the heading “Risk Factors” in the Company’s Annual Information Form (“AIF”) dated September 4, 2024, filed with the Canadian securities regulatory authorities on the SEDAR+ website at www.sedarplus.com and as available on the Company's website for further details.
