{"id":7137,"date":"2024-03-14T01:32:55","date_gmt":"2024-03-14T01:32:55","guid":{"rendered":"https:\/\/economicherald.net\/?p=7137"},"modified":"2024-03-14T01:32:55","modified_gmt":"2024-03-14T01:32:55","slug":"hot-chili-leverages-existing-port-steps-into-five-year-mou-deal-for-costa-fuego-copper-gold-project","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=7137","title":{"rendered":"Hot Chili leverages existing port, steps into five-year MoU deal for Costa Fuego copper-gold project"},"content":{"rendered":"<p>Hot Chili has entered into an MoU with the existing Las Losas port facility in Chile<br \/>\nThe two parties will work together to undertake a port feasibility study for a bulk tonnage copper concentrate facility to be developed<br \/>\nHot Chili plans to fund 20% of the US$4.6m study for two years <\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report<\/em>: Hot Chili has executed a five-year MoU deal with Puerto Las Losas SA (PLL) to evaluate bulk tonnage loading alternatives for copper concentrate from the Costa Fuego project in Chile. <\/strong><\/p>\n<p>The MoU with PLL provides <a href=\"https:\/\/stockhead.com.au\/company\/hot-chili-hch\/\"><strong>Hot Chili (ASX:HCH)<\/strong><\/a> the right (for up to five years) to negotiate a binding port services agreement for Costa Fuego, which would include a \u2018take or pay volume\u2019 clause based on at least 80% of the project\u2019s future annual concentrate production.<\/p>\n<p>Under the terms of the agreement, HCH and PLL will undertake a port feasibility study, comprising pre-feasibility engineering (FEL2), feasibility engineering (FEL3) and environmental studies.<\/p>\n<p>\u00a0<\/p>\n<p>View across the existing Las Losas Port facility, Huasco Bay Chile in 2023. Pic: Supplied (HCH)<\/p>\n<p>\u00a0<\/p>\n<p>HCH will fund 20% of the port feasibility study, which is estimated to have a total cost of ~US$4.6m and will take roughly two years to complete.<\/p>\n<p>Upon completion of the port feasibility study \u2013 and provided that a shipping solution for loading copper concentrates is agreed at existing or potential infrastructure in PLL \u2013 HCH will have a right of first refusal (ROFR) to ship copper concentrates through PLL\u2019s facilities in Huasco Bay for a three-year period.<\/p>\n<p>PLL may terminate the ROFR by reimbursing HCH\u2019s port feasibility study costs.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Unlocking a significant copper infrastructure corridor <\/strong><\/h2>\n<p>\u201cLeveraging an existing port, 50km away, into a bulk concentrate export facility has the potential to unlock significant capital and operating savings for Costa Fuego and other potential mine developers in the Huasco region of Chile,\u201d HCH managing director Christian Easterday says.<\/p>\n<p>\u201cHot Chili plans to jointly develop a significant copper infrastructure corridor, enabling our own production and unlocking multiple projects within the region, which would benefit significantly from desalinated water supply and proximal bulk copper concentrate port facilities.\u201d<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Port feasibility study to begin shortly <\/strong><\/h2>\n<p>Within the coming months, PPL will be responsible for selecting a suitably qualified, top-tier, independent engineering company to carry out a port feasibility study.<\/p>\n<p>This study will evaluate bulk handling and loading alternatives for copper concentrates using the existing Las Losas port facilities, potentially with or without modifying the existing infrastructure for the port in operation.<\/p>\n<p>Representatives from both PPL and HCH will form a technical committee to progress the studies and within the first month, aim to define key project deliverables, as well as a timetable for management of the completion of the feasibility study workstreams.<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p><em>This article was developed in collaboration with Hot Chili, a Stockhead advertiser at the time of publishing. <\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/hot-chili-leverages-existing-port-steps-into-five-year-mou-deal-for-costa-fuego-copper-gold-project\/\">Hot Chili leverages existing port, steps into five-year MoU deal for Costa Fuego copper-gold project<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Hot Chili has entered into an MoU with the existing Las Losas port facility in Chile The two parties will work together to undertake a <a href=\"https:\/\/economicherald.net\/?p=7137\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":7138,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-7137","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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