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Atico Signs an Agreement With the Ecuadorian Energy Company for the Engineering, Permitting and Construction of the La Plata Power Line
VANCOUVER, British Columbia, Aug. 13, 2020 (GLOBE NEWSWIRE) -- Atico Mining Corporation (the “Company” or “Atico”) (TSX.V: ATY | OTC: ATCMF) is pleased to infor
About this update from Atico Mining Corporation
[{"type":"text","content":" VANCOUVER, British Columbia, Aug. 13, 2020 (GLOBE NEWSWIRE) -- Atico Mining Corporation (the “Company” or “Atico”) (TSX.V: ATY | OTC: ATCMF) is pleased to inform that the Company officially entered into an inter-institutional cooperation agreement (“The Power Agreement”) between CNEL, the Ecuadorian National Electrical Company and its Ecuadorean subsidiary Compañía Minera La Plata S.A. The Company continues to advance the La Plata permitting process while in parallel advancing different aspects of required work to complete the planned feasibility study. As a major component of this study, finding a solution for clean energy is an important milestone. After several months of productive negotiations with CNEL and the Ecuadorean energy authorities we are pleased with the execution of this strategic agreement as it brings the Company’s La Plata project another step closer towards production. The La Plata project has received strong support from the Government of Ecuador and has been identified as part of the “second generation” priority projects necessary for the nation’s economic development. The Power Agreement confirms the collaboration between Compañía Minera La Plata S.A, the local subsidiary of Atico Mining in Ecuador and the national power company CNEL consisting of the engineering, permitting and construction required to connect the 69kv power line required for La Plata’s planned mining infrastructures located in Palo Quemado, province of Cotopaxi. Alain Bureau, President of Atico Mining commented: “This is a major milestone our team has achieved for the La Plata project. 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. We would like to commend the cooperation of CNEL´s authorities for their support on reaching this milestone.” The Power Agreement confirms the availability of the required power source from CNEL’s regional substation located only 7.5 km from the project. This Power Agreement also allows the streamlining of the electrical power supply to the project and demonstrates the Ecuadorian Government desire to fully integrate power, oil and mining to rapidly nurture its plans within the upcoming econo...