08:44 AM EDT, 09/09/2024 (MT Newswires) -- Solaris Resources ( SLSR ) on Monday said it submitted an Environmental Impact Assessment (EIA) for the Warintza project to regulators in Ecuador.

The company, which has already spent US$170 million on the copper and gold mining project, said it submitted the over 3,000-page study to the country's Ministry of Environment, Water and Ecological Transition. It expects a final decision from the ministry in the first half of next year.

"The submission of the EIA and commencement of permitting for construction is a major milestone for the Warintza Project," Chief Operating Officer Javier Toro said in a statement. "We are very grateful to all our supporters, and in particular to our host communities and the Advisory Board of the Strategic Alliance of the Warintza Project who have been integral to the socialization of this EIA."

The company has US$84 million of available liquidity and said the filing allows it to access US$15 million from its Offtake Credit Facility.

Solaris also said it is continuing the process of moving its headquarters from Vancouver to Quito, Ecuador's capital.

"Solaris is continuing to evaluate further steps to complete a greater transition to Ecuador," the company said, adding that it does not anticipate any further steps will pose adverse tax consequences or require a change of stock exchange listings.

Solaris shares closed down $0.16 to $2.61 Friday on the Toronto Stock Exchange.