Latin America-focused Atico Mining has sealed a power agreement with Ecuadorian national electricity company CNEL, which CEO Alain Bureau describes as a major milestone for the La Plata project.
The power agreement confirms the collaboration between Compañía Minera La Plata, the local subsidiary of Atico, and CNEL consisting of the engineering, permitting and construction required to connect the 69 kV power line required for La Plata’s planned mining infrastructures located in Palo Quemado.
The agreement confirms the availability of the required power source from CNEL’s regional substation 7.5 km from the project.
The accord also allows the streamlining of the electrical power supply to the project and demonstrates the Ecuadorian government's desire to fully integrate power, oil and mining to rapidly nurture its plans within the upcoming economic growth strategy, Vancouver-based Atico says.
The company adds that the La Plata project has received strong support from the government of Ecuador and has been identified as one of the “second generation” priority projects necessary for the nation’s economic development.
“The government has been quite supportive of the project and our efforts to maintain excellent cooperation and transparency with all level of authorities. This has been key to build trust while making great strides towards fast-tracking permitting of this project,” says Bureau.
Atico is planning an 800 t/d underground mine at La Plata. Drilling is under way and it has two rigs at the site.