Hot Chili Announces Registration of Costa Fuego and Huasco Water for Priority Status by Chilean Ministry of Economy
Hot Chili has achieved a significant milestone as its Costa Fuego copper-gold project and Huasco Water project in Chile have been registered with the Office for Sustainable Project Management by the Chilean Ministry of Economy. This registration, following the company's September 2024 application, positions both projects for priority status and streamlined administrative approvals.
The projects now benefit from centralized monitoring through a single platform, with unique identification codes assigned (Costa Fuego: PRYXTX11, Huasco Water: ZPJCFN59). This development follows Hot Chili's recent Pre-Feasibility Study, which confirmed Costa Fuego as a multi-decade, top quartile production scale copper project with lowest quartile capital intensity.
The company is also anticipating final drill results from its La Verde copper-gold porphyry discovery, the latest addition to its Costa Fuego production hub. This strategic registration marks a crucial step forward in Hot Chili's development plans in Chile's coastal range.
Hot Chili ha raggiunto un traguardo importante con la registrazione del progetto di rame-oro Costa Fuego e del progetto idrico Huasco in Cile presso l'Ufficio per la Gestione Sostenibile dei Progetti del Ministero dell'Economia cileno. Questa registrazione, avvenuta dopo la domanda presentata dall'azienda nel settembre 2024, conferisce a entrambi i progetti uno status prioritario e semplifica le approvazioni amministrative.
I progetti beneficiano ora di un monitoraggio centralizzato tramite una piattaforma unica, con codici identificativi univoci assegnati (Costa Fuego: PRYXTX11, Huasco Water: ZPJCFN59). Questo sviluppo segue lo Studio di Prefattibilità recentemente completato da Hot Chili, che ha confermato Costa Fuego come un progetto di rame di grande scala, con produzione di prim’ordine e intensità di capitale tra le più basse.
L’azienda attende inoltre i risultati finali delle perforazioni della scoperta porfirica di rame-oro La Verde, l’ultima aggiunta al polo produttivo di Costa Fuego. Questa registrazione strategica rappresenta un passo fondamentale nei piani di sviluppo di Hot Chili nella catena costiera cilena.
Hot Chili ha alcanzado un hito importante al registrar su proyecto de cobre y oro Costa Fuego y el proyecto hídrico Huasco en Chile en la Oficina de Gestión Sostenible de Proyectos del Ministerio de Economía chileno. Esta inscripción, tras la solicitud de la empresa en septiembre de 2024, otorga a ambos proyectos un estatus prioritario y agiliza las aprobaciones administrativas.
Los proyectos ahora cuentan con monitoreo centralizado a través de una plataforma única, con códigos de identificación únicos asignados (Costa Fuego: PRYXTX11, Huasco Water: ZPJCFN59). Este avance sigue al Estudio de Prefactibilidad reciente de Hot Chili, que confirmó que Costa Fuego es un proyecto de cobre de producción a gran escala, en el primer cuartil y con la menor intensidad de capital.
La compañía también espera los resultados finales de perforación de su descubrimiento de pórfido de cobre y oro La Verde, la incorporación más reciente a su centro de producción Costa Fuego. Esta inscripción estratégica representa un paso crucial en los planes de desarrollo de Hot Chili en la cordillera costera de Chile.
Hot Chili는 칠레 경제부 산하 지속가능 프로젝트 관리 사무소에 Costa Fuego 구리-금 프로젝트와 Huasco 물 프로젝트를 등록하며 중요한 이정표를 세웠습니다. 2024년 9월 회사의 신청 이후 이루어진 이 등록은 두 프로젝트가 우선 순위 지위를 부여받고 행정 승인 절차가 간소화되도록 합니다.
이제 두 프로젝트는 단일 플랫폼을 통한 중앙 집중식 모니터링 혜택을 누리며, 고유 식별 코드가 할당되었습니다(Costa Fuego: PRYXTX11, Huasco Water: ZPJCFN59). 이 발전은 Hot Chili가 최근 완료한 예비 타당성 조사에 따른 것으로, Costa Fuego가 다수십 년간 지속되는 최상위 생산 규모의 구리 프로젝트이며 자본 집약도가 가장 낮은 프로젝트임을 확인했습니다.
회사는 또한 Costa Fuego 생산 허브에 새로 추가된 La Verde 구리-금 포피리 발견의 최종 시추 결과를 기다리고 있습니다. 이번 전략적 등록은 칠레 해안 산맥에서 Hot Chili의 개발 계획에 중요한 진전을 의미합니다.
Hot Chili a franchi une étape importante avec l'enregistrement de son projet cuivre-or Costa Fuego et du projet eau Huasco au Chili auprès du Bureau de la Gestion Durable des Projets du Ministère de l'Économie chilien. Cet enregistrement, suite à la demande de la société en septembre 2024, confère à ces deux projets un statut prioritaire et simplifie les approbations administratives.
Les projets bénéficient désormais d'une surveillance centralisée via une plateforme unique, avec des codes d'identification uniques attribués (Costa Fuego : PRYXTX11, Huasco Water : ZPJCFN59). Cette avancée fait suite à l'étude de préfaisabilité récente de Hot Chili, qui a confirmé Costa Fuego comme un projet de cuivre à grande échelle, de premier quartile en production et à faible intensité capitalistique.
La société attend également les résultats finaux des forages de sa découverte porphyrique cuivre-or La Verde, la dernière addition à son pôle de production Costa Fuego. Cet enregistrement stratégique marque une étape clé dans les plans de développement de Hot Chili dans la cordillère côtière chilienne.
Hot Chili hat einen bedeutenden Meilenstein erreicht, indem sein Costa Fuego Kupfer-Gold-Projekt und das Huasco Wasserprojekt in Chile beim Amt für nachhaltiges Projektmanagement des chilenischen Wirtschaftsministeriums registriert wurden. Diese Registrierung, die auf den Antrag des Unternehmens im September 2024 folgt, verschafft beiden Projekten Prioritätsstatus und erleichtert administrative Genehmigungen.
Die Projekte profitieren nun von einer zentralisierten Überwachung über eine einzige Plattform, wobei eindeutige Identifikationscodes vergeben wurden (Costa Fuego: PRYXTX11, Huasco Water: ZPJCFN59). Diese Entwicklung folgt auf die jüngste Vorstudie von Hot Chili, die Costa Fuego als ein mehrjahrzehntiges Kupferprojekt mit Produktion im obersten Quartil und niedrigster Kapitalintensität bestätigt hat.
Das Unternehmen erwartet außerdem die finalen Bohrergebnisse seiner La Verde Kupfer-Gold-Porphyr-Entdeckung, die jüngste Ergänzung des Produktionszentrums Costa Fuego. Diese strategische Registrierung markiert einen entscheidenden Fortschritt in den Entwicklungsplänen von Hot Chili in der Küstenkordillere Chiles.
- Costa Fuego and Huasco Water projects received priority status registration from Chilean Ministry of Economy, streamlining future approvals
- Projects now have centralized permitting process through single platform, potentially reducing administrative delays
- La Verde discovery confirmed as multi-decade, top quartile production scale copper project
- Pre-Feasibility Study shows lowest quartile capital intensity for the copper project
- Environmental Impact Assessment still pending submission for both projects
- Second maritime concession application still awaiting approval
- Multiple governmental approvals still required despite priority status
Hot Chili applied for registration in September 2024, forming the view that both projects fulfilled key requirements to be considered in the Chilean government's list of strategic investment projects for the country to expedite through streamlined administrative approval processing.
The registration marks a significant step forward for Hot Chili and indicates that Costa Fuego and Huasco Water meet the Chilean government's objective criteria to acquire priority status. Both projects are now under the supervision and monitoring of the Office for Sustainable Project Management, which aims to optimise and accelerate the approvals process for projects that promote sustainability.
Hot Chili is now able to centralise and monitor all active permitting processes through a single platform, which includes the Company's second maritime concession application (Huasco Water) and future Environmental Impact Assessment submission (Costa Fuego and Huasco Water).
Registry is confirmed on the official website (https://ogp.economia.cl/grandes-proyectos/proyectos-de-inversion/) with unique identification codes for Costa Fuego (PRYXTX11), and Huasco Water (ZPJCFN59) already assigned.
The Company looks forward to providing further updates, including final drill results from its stage-1 drill programme across its exciting La Verde copper-gold porphyry discovery.
La Verde is the latest addition to the Company's Costa Fuego production hub, confirmed as a multi-decade, top quartile production scale and lowest quartile capital intensity copper project in the Company's recently released Pre-Feasibility Study (see announcement dated 27th March 2025).
This announcement was approved and authorised for release by the Board of Hot Chili.
For further information, please contact:
Christian Easterday | Tel: +61 8 9315 9009 |
Carol Marinkovich | Tel: +61 8 9315 9009 |
Graham Farrell | Email: graham@hotchili.net.au |
or visit Hot Chili's website at www.hotchili.net.au
Disclaimer
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.
Forward Looking Statements
This news release contains certain statements that are "forward-looking information" within the meaning of Canadian securities legislation and Australian securities legislation (each, a "forward-looking statement"). Forward-looking statements reflect the Company's current expectations, forecasts, and projections with respect to future events, many of which are beyond the Company's control, and are based on certain assumptions. No assurance can be given that these expectations, forecasts, or projections will prove to be correct, and such forward-looking statements included in this news release should not be unduly relied upon. The use of any of the words "anticipate", "believe", "could", "estimate", "expect", "may", "plan", "potential", "project", "should", "will", "would" and similar expressions are intended to identify forward-looking statements.
In this news release, forward-looking statements relate, among other things, to: timing and receipt of governmental approvals for Costa Fuego and Huasco Water; the potential of the La Verde copper-gold porphyry discovery; and the Company's future business plans. Forward-looking statements involve known and unknown risks, uncertainties, and other factors, which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors may, include, but are not limited to: operational risks; sovereign risks associated with the Company's operations in
Although the forward-looking statements contained in this news release are based upon assumptions which the Company believes to be reasonable, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. With respect to forward-looking statements contained in this news release, the Company has made assumptions regarding: future commodity prices and demand; availability of skilled labour; timing and amount of capital expenditures; future currency exchange and interest rates; the impact of increasing competition; general conditions in economic and financial markets; availability of drilling and related equipment; effects of regulation by governmental agencies; future tax rates; future operating costs; availability of future sources of funding; and ability to obtain financing. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive therefrom.
For additional information with respect to these and other factors and assumptions underlying the forward-looking statements made herein, please refer to the public disclosure record of the Company, including the Company's most recent Annual Report, which is available on SEDAR+ (www.sedarplus.ca) under the Company's issuer profile. New factors emerge from time to time, and it is not possible for management to predict all those factors or to assess in advance the impact of each such factor on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statement.
The forward-looking statements contained in this news release are expressly qualified by the foregoing cautionary statements and are made as of the date of this news release. Except as may be required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward-looking statement to reflect events or circumstances after the date of this news release or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results, or otherwise. Investors should read this entire news release and consult their own professional advisors to ascertain and assess the income tax and legal risks and other aspects of an investment in the Company.
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SOURCE Hot Chili Limited
FAQ
What priority status did Hot Chili (HHLKF) receive from Chile's Ministry of Economy in April 2025?
How will the Chilean government's priority status benefit Hot Chili's (HHLKF) projects?
What is the significance of Hot Chili's (HHLKF) La Verde discovery for Costa Fuego?
When did Hot Chili (HHLKF) apply for the Chilean priority status registration?
What are the next steps for Hot Chili's (HHLKF) Costa Fuego and Huasco Water projects?
