04:53 PM EDT, 09/17/2025 (MT Newswires) -- Atico Mining ( ATCMF ) on Wednesday said it signed an investment protection agreement (IPA) with the Ecuadorian government to advance its La Plata mining project.

The project represents a total investment of about US$157.9 million, the company added.

The IPA provides benefits, including granting legal and tax stability for the project, and reducing the income tax rate by 5% for the duration of the contract. If any disputes arise, the company has the right to resolve them through international arbitration instead of relying solely on local courts, the company said.

La Plata is nearing final permitting under Ecuadorian law. Once approved, construction will begin, creating over 600 direct jobs and many indirect ones. During production, the project will support over 300 direct roles and additional indirect employment, according to the statement.

Atico shares closed up $0.015 to $0.24 on the TSX Venture Exchange.