The La Plata project is located in the district of Toachi, approximately 100 km southwest of Quito in Ecuador. Credit: Atico Mining.
Atico Mining (TSXV: ATY) has inked an investment protection agreement (IPA) with the government of Ecuador for the development of its La Plata mining project located 100 km southwest of Quito.
The IPA, which formalizes the commitment made by the Ecuadorian government during last year’s Prospectors and Developers Association of Canada (PDAC) convention, covers a total of $157.9 million in current and future investments.
Vancouver-headquartered Atico said the agreement would provide the added benefit of legal and tax stability throughout the life of mine. Under the terms of the IPA, Atico would receive an income tax reduction of 5% during the life of the contract, access to international arbitration in disputes, and protection from confiscation or expropriation of assets…
