Hot Chili nabs maritime concession for sea water for its green Costa Fuego copper project
The Chilean Naval Authority has granted copper developer Hot Chili access to the physical land of its Maritime Concession for extraction of sea water just 60km from the proposed location of Costa Fuego’s central processing facilities in Chile.
It’s another feather in the cap for the company, whose Costa Fuego project is slated to be a green copper development using sea water – with no ground water or desalination plant required.
Hot Chili (ASX:HCH) says the approval of its maritime application (water extraction right and associated land access rights) shows the Government’s support for the development of a new large-scale copper hub for the Vallenar region of Chile.
This news adds another layer to the project’s environmental credentials at the Costa Fuego project, with Hot Chili able to operate off a mix of nearby solar, wind and hydroelectric generators, and having a clean (arsenic-free) concentrate.
Plus, the company recently received approval from Chile’s Central Authority Electrical Regulator to connect to the Maitencillo substation 17km from the centre of the Costa Fuego development.
It opens access for Hot Chili to the national electricity grid, with the company able to negotiate with the multiple renewable energy providers in the South American nation.
A process to select one or more electrical providers is expected to begin in the fourth quarter of 2022.
This article was developed in collaboration with Hot Chili, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.