Atico secures environmental license for Ecuador’s La Plata project

Canadian company Atico Mining obtained approval for the Environmental Impact Study (EIS) and the environmental license for its polymetallic project La Plata, paving the way for construction of the mine at a time when Ecuador is seeking to attract foreign investment.

The authorizations, published in the government’s Official Register on February 5, allow progress toward the construction phase of the project, valued at around US$160 million.

Located in the Andean province of Cotopaxi, La Plata will be an underground mine designed to produce copper and zinc concentrates, with attractive gold and silver grades. 

The concession is valid until 2049; however, if the operator discovers new resources during exploration, it could obtain a 25-year extension.

The company has signed an Investment Protection Agreement (API) with the Ecuadorian government, which grants legal and tax stability to the project for the duration of the contract, a 5% reduction in income tax, and the ability to resort to international arbitration in the event of disputes.

In 2025, Atico completed the community participation process and obtained the permit for industrial water use, key steps for environmental approval.

In a context in which Ecuador is seeking to attract foreign investment to diversify its productive matrix, the approval of the license for a project that faced continuous attempts to halt it by anti-mining groups constitutes a decisive milestone. 

With the EIA and the environmental license already in hand, preliminary work for construction would begin in 2026.

La Plata, a medium-scale mining project, is emerging as the country’s fourth industrial mine, after Mirador and Fruta del Norte —large-scale assets already in operation— and El Domo, also a medium-scale mining project, currently under construction. 

(The original version of this content was written in Spanish)