Constitutional Court Ruling Allows Continuation of The Environmental Consultation Process for Atico’s La Plata Copper-Gold Project in Ecuador
20 November 2023 - 2:15PM
Constitutional Court Ruling Allows Continuation of The
Environmental Consultation Process for Atico’s La Plata Copper-Gold
Project in Ecuador
Atico Mining Corporation (the “Company” or “Atico”) (TSX.V: ATY |
OTCQX: ATCMF) reports a significant development in Ecuadorian
environmental regulation, positively impacting our operations and
those of other productive projects nationwide.
On November 17 2023, the Ecuadorian
Constitutional Court (CC) ruled on the unconstitutionality of
Executive Decree 754, regarding the Environmental Consultation
Process (ECP) for national projects. However, the CC has decided to
maintain the decree in force until the Ecuadorian National Assembly
enacts this procedure into Organic Law. This decision comes as a
crucial step before the Ministry of Environment, Water, and
Ecological Transition (MAATE) can issue environmental licenses.
This ruling is pivotal for the La Plata project
and the broader community, impacting 178 important national
projects in the process of obtaining environmental licenses. The
decision enables the resumption of the ECP, previously obstructed
by anti-mining groups. This obstruction paralyzed the construction
of hospitals, water treatment plants, clean energy projects and not
only hampered the project’s progress but also violated the rights
of residents in the Direct Influence Area (DIA) to be informed and
consulted about potential environmental and social impacts.
The Environmental Consultation process is a
fundamental dialogue and public debate mechanism. It ensures an
open and informed interaction between the State, through MAATE, and
local communities where projects are planned. This process aims to
extensively and timely inform about potential environmental impacts
and the measures for mitigation, control, and monitoring.
Atico Mining is committed to transparent and
responsible mining practices, respecting both environmental
standards and community rights. We are optimistic that this
resolution by the CC will enable us to rapidly progress with the La
Plata mining project, following a favourable technical endorsement
of the Environmental Impact Assessment (EIA) last May for the
upcoming construction phases.
We thank our stakeholders for their continued
support and look forward to advancing the La Plata project in
compliance with the highest environmental and social standards.
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. GanozaCEOAtico Mining
Corporation
Trading symbols: TSX.V: ATY | OTCQX: ATCMF
Investor RelationsIgor DutinaTel:
+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;
the world-wide economic and social impact of COVID-19 is managed
and the duration and extent of the coronavirus pandemic is
minimized or not long-term; disruptions related to the COVID-19
pandemic or other health and safety issues, or the responses of
governments, communities, the Company and others to such pandemic
or other issues; and other risks and uncertainties disclosed under
the heading “Risk Factors” in the prospectus of the Company dated
March 2, 2012 filed with the Canadian securities regulatory
authorities on the SEDAR website at www.sedar.com
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