Hot Chili and Los Losas Port Execute a MOU to Negotiate Binding Port Services Agreement for Costa Fuego
Retrieved on:
星期四, 三月 14, 2024
"We are pleased to be a joint funding partner with PLL for this feasibility study and the five-year optionality that this MOU provides Hot Chili, to negotiate a binding port services agreement as a foundation bulk concentrate customer at Las Losas.
Key Points:
- "We are pleased to be a joint funding partner with PLL for this feasibility study and the five-year optionality that this MOU provides Hot Chili, to negotiate a binding port services agreement as a foundation bulk concentrate customer at Las Losas.
- Importantly, the MOU with PLL provides Hot Chili the right, for up to five years, to negotiate a binding Port Services Agreement for Costa Fuego.
- The potential Port Service Agreement would include a "Take or Pay Volume" clause, based on at least 80% of Costa Fuego's projected future annual concentrate production.
- Hot Chili will fund 20% of the port Feasibility Study, which is estimated to cost approximately US$4.6 million and take approximately two years to complete.