Atico Mining Corporation reports operating and financial developments tied to copper and gold mining in Latin America. Its recurring updates center on the El Roble underground mine in Colombia, which produces copper-gold concentrate, and on exploration drilling, production results, concentrate shipments, cash costs, working capital, and capital-structure actions.
Company news also covers permitting and development activity for the high-grade La Plata VMS project in Ecuador. Atico’s disclosures commonly connect mine output, assay results, regulatory approvals, and project advancement with its broader focus on exploring, developing, and mining copper and gold assets.
Atico Mining (OTCQX:ATCMF) has achieved a significant milestone by signing an Investment Protection Agreement (IPA) with the Ecuadorian government for its La Plata mining project, which involves a total investment of $157.9 million.
The IPA provides crucial benefits including legal and tax stability throughout the project's lifecycle, a 5% income tax reduction, and access to international arbitration for dispute resolution. The agreement ensures protection against confiscation and includes comprehensive investor rights for production, marketing, and trade.
The La Plata project is in its final stages of obtaining environmental licenses and permits. Once operational, it will generate over 600 direct and 1,200-1,800 indirect jobs during construction, and 300 direct and 600-900 indirect positions during commercial production.
Atico Mining (OTCQX:ATCMF) has achieved a significant milestone with the successful completion of the Community Participation Process for Environmental Consultation (PPC) at its La Plata project in Ecuador. The process, conducted by the Ministry of the Environment, Water, and Ecological Transition (MAATE), represents the final step before granting the Environmental License for exploitation.
The consultation process included environmental facilitators gathering information, sharing project details, and conducting community consultations. At the MAATE's Consultation Assembly on August 23, over 90% of participating residents from Las Minas de La Plata and San Pablo de La Plata expressed support for granting the Environmental License to proceed with mining operations.
Atico Mining (OTC:ATCMF) reported its Q2 2025 financial results, posting a net income of $2.7 million, a significant improvement from a $0.4 million loss in Q2 2024. Sales increased 94% to $21.1 million, driven by higher concentrate sales and strong metal prices. The El Roble mine produced 2.2 million pounds of copper and 2,385 ounces of gold at a cash cost of $1.73 per payable pound.
The company secured a new 30-year mining agreement for El Roble mine and amended its credit agreement, with the principal amount to be repaid in two installments: $2.7 million (paid) and $6.0 million due December 2026. Production decreased 42% for copper and 16% for gold compared to Q2 2024, primarily due to lower ore throughput and copper grades. The company expects gradual operational improvements in the second half of 2025.
Atico Mining (OTCQX:ATCMF) reported Q2 2025 production results from its El Roble mine in Colombia, producing 2.16 million pounds of copper and 2,385 ounces of gold in concentrates. The company experienced a 42% decrease in copper production and a 17% decrease in gold production compared to Q2 2024.
The mine processed an average of 830 tonnes per day, with copper head grade at 1.74% and gold head grade at 2.08 g/t. Recovery rates were 91.2% for copper and 57.6% for gold. Additionally, Jorge Ganoza will transition from his role as Vice President of Operations and Projects but remain as a director and advisor.
Atico Mining (OTC:ATCMF) has successfully completed its rights offering, raising $3.29 million through the issuance of 29,887,022 units at $0.11 per unit. Each unit includes one common share and one warrant exercisable at $0.18 for two years. The company now has 151,173,207 common shares outstanding, with insiders acquiring approximately 41% of the Rights Units.
The company plans to use the proceeds from both the Rights Offering and upcoming LIFE Offering for developing its La Plata project in Ecuador, additional drilling at the El Roble mine in Colombia, and general corporate purposes. The LIFE Offering is expected to close around July 28, 2025.
Atico Mining Corporation (OTC:ATCMF) has successfully executed a loan amendment and restructuring agreement with Trafigura PTE. LTD. for its existing secured credit facility. The restructuring involves the repayment of the outstanding US$8.7 million Principal Amount in two installments: US$2.7 million on July 25, 2025, and US$6 million on December 30, 2026.
The amended agreement includes an interest rate of SOFR plus 7.5% on the outstanding Principal Amount. Additionally, Atico and Trafigura have extended their commercial concentrate purchase contract for two more years, which covers 100% of the concentrate produced from the El Roble mine, with a minimum annual requirement of 32,000 dry metric tons.
The Company continues to focus on exploring, developing, and mining copper and gold projects in Latin America, generating cash flow through the El Roble mine operation while developing the high-grade La Plata VMS project in Ecuador.