Hot Chili Limited (ASX: HCH) (TSXV:HCH) (OTCQX: HHLKF) has received approval from Chile ́s Central Authority Electrical Regulator for the company’s application for connection to the Maitencillo sub-electrical power station, located 17 km from the centre of its Costa Fuego senior copper development in Chile.
Connection to Maitencillo is a key step forward for the development of Costa Fuego, providing access to Chile’s national energy grid and its multiple renewable energy providers.
As part of the company’s Pre-feasibility Studies (PFS) for Costa Fuego, Hot Chili have engaged with several electrical market providers and advisors. Several non-binding long-term power quotes have been received and Hot Chili expects to start a binding process to select one or more electrical providers for the Costa Fuego copper hub in Q4 2022.
Outside of being the lowest-altitude senior copper development in the America’s, Costa Fuego benefits significantly from a low energy intensity development approach (raw sea water processing without the requirement for a desalination plant).
Hot Chili will be able to operate Costa Fuego on a 100% renewable power mix (certified by I-Recs) – nearby solar generators, wind turbines and hydroelectric power, adding significantly to the projects’ environmental credentials.
Costa Fuego is fast approaching infrastructure readiness, with port access and services discussions currently advancing toward agreement and all other necessary critical infrastructure accesses in place. Exploration and resource growth drilling is continuing and a resource upgrade is planned for late 2022.
Hot Chili is on-track to deliver its PFS on Costa Fuego in Q1 2023, which will establish the project as one of few new material copper mines in the world set for production in the near-term.
For further information please visit: https://www.hotchili.net.au/
