Marimaca Copper (TSX: MARI) continues to advance their Marimaca Oxide Project in Chile towards being construction ready, with the company this morning announcing the receipt of environmental approvals for the project. The approval follows a submission made by the company in December 2024 as part of advancing the project.
With approval in hand, Marimaca is now slated to advance to the next stage of permitting for the Oxide Project, with the company now moving to secure sectorial permits. The sectorial permits are auxiliary permits that are required for various stages of construction and operating.
“We committed significant time and resources to our permitting strategy, to design a project which delivers a strong mitigation strategy for the environmental and social risks identified, a framework for ongoing risk management, while aligning with our corporate ethos to deliver a project which generates long term value for all of our stakeholders. The receipt of the RCA reflects the exceptional work completed, over several years, by our team,” commented Jose Antonio Merino, Managing Director of Chile for Marimaca Copper.
“Our focus now shifts to the critical path for Final Investment Decision and Project Sanctioning, for which we have set ourselves the ambitious target of being ready in the second half of 2026,” commented Hayden Locke, CEO of Marimaca.
WATCH: Marimaca Copper: The MOD Feasibility Study
A feasibility study completed on the Marimaca Oxide project in August outlined an operation that would produce 50,000 tonnes of copper cathode annually over a 13 year mine life. The project boasts an after tax net present value (8% discount) of US$709 million alongside an IRR of 31% and a payback period of 2.5 years at US$4.30 per pound copper.
Marimaca Copper last traded at $10.96 on the TSX.
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