Mineros SA announced that its subsidiary in exclusive property, Hemco Mineros Nicaragua SA, has obtained the forest operating license it needs to start the construction phase of its underground mine within the framework of the Porvenir project. The Porvenir project is located in the community of Vesubio, municipality of Bonanza, in the Autonomous region of the Nicaragua Nicaragua Coast (Raccn), a region rich in mining. This crucial authorization marks an important step, allowing the start of the preparation of the mining site and underground development.
It represents a major step towards the realization of the Porvenir project. This authorization highlights the unwavering commitment of Mineros and Hemco in favor of rigorous environmental standards and transparent involvement with communities. This permit specifically covers mining activities and does not constitute an operating permit.
Other complete environmental and regulatory permits, including those of the Ministry of the Environment and Natural Resources (Marena) for the operation of installations, are necessary before processing activities can start. The Bonanza region has a long history linked to mining. Mineros, through Hemco, is well established in Nicaragua, where it operates the Pioneer and Panama mines located nearby.
The company undertakes to develop resources in order to generate sustainable socio-economic advantages. Throughout the development of the Porvenir project, Mineros has collaborated with communities and local authorities and remains determined to preserve the environment and maximize the advantages for the local population, in particular in terms of employment and supply, as the project is advancing in its construction phase and towards a potential future exploitation. After obtaining this permit, Mineros will continue the technical studies and the detailed planning of the infrastructure of the operational phase of the project.
The next key steps are as follows: Advancement to an optimized pre-affair plan: the company actively works to update the hypotheses of the project, including a geometallurgical update based on test work of 2023, which should be completed by the end of 2025. Final technical design: finalize and subject to the competent authorities (including the Marena) Essential operational, such as the enrichment factory (treatment), residue storage installation (TSF) and the sterile storage installation (WRSF), as required for subsequent operating permit requests. Operating permit requests: Continue procedures for requesting all necessary operating permits.
The commercial exploitation of the Porvenir mine remains subject to obtaining several additional permits, in particular, but without limiting itself: environmental operating permit (covering the enrichment plant, the residue storage installation, the sterile storage installation and all the operations of the site): the specific request for the enrichment factory and its associated TSF is currently underway. The permits covering the installation of sterile storage and other operational aspects will be requested later. Bachelor of occupational health and safety: to be obtained after the completion of the construction of the mine and the factory.
Concession for water development: requires a complete hydrological study in the context of demand. Wastewater rejection permit: for the management of domestic and industrial effluents in accordance with regulatory standards.
