BASE METALS

Hot Chili starts port neogitations

Hot Chili has begun negotiations to develop a port facility from which to export copper-gold concentrates from its Costa Fuego development stage project in central Chile. The port facility is the final critical infrastructure item required for the development of the project.

Hot Chile's Productora in Chile

Hot Chile's Productora in Chile

The company executed a letter of intent with Puerto Las Losas (PLL) to negotiate a port access and port services agreement for PLL's facilities at Huasco, about 50km west of Costa Fuego's proposed processing plant.

PLL will finance a study for port services, including any required upgrades, using the existing PLL dock for the shipment of copper concentrates and other materials related to the future construction and operation of Costa Fuego. Hot Chili expects to receive a binding offer for port services within 12 weeks.

"Leveraging off existing port infrastructure will materially reduce Costa Fuego's environmental footprint during construction and operations. As no new port or areas will be required for construction or subject to environmental permitting, we expect a positive impact to our construction capital requirements and overall permitting/construction timelines," said Hot Chili country manager and chief legal counsel Jose Ignacio Silva.

Hot Chili plans to issue a resource update during the March quarter combining the Cortadera and Productora deposits of Costa Fuego, as it aims to publish a pre-feasibility study in the September quarter.

Shares in Hot Chili are trading at A$1.73, valuing the company at $189 million.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.