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- Copper explorer Hot Chili (HCH) is set to connect its flagship Costa Fuego project to Chile’s national power grid as it works to deliver a pre-feasibility study (PFS) for the project
- Chile’s Central Authority Electrical Regulator has approved the company’s application to connect to the Maitencillo sub-electrical power station, just 17 kilometres from Costa Fuego
- As such, the company now plans to lock in a binding power supply deal with a Chilean electricity provider during the December quarter
- Hot Chili is on track to deliver its PFS for the project during the first quarter of 2023 and says it plans to kick off a fresh drilling program in the area later this year
- Shares in Hot Chili last traded at 80 cents on August 17
Copper explorer Hot Chili (HCH) is set to connect its flagship Costa Fuego project to Chile’s national power grid as it works to deliver a pre-feasibility study (PFS) for the project.
The company this morning said its application to connect to the Maitencillo sub-electrical power station, just 17 kilometres from the centre of the Costa Fuego development, had been approved by Chile’s Central Authority Electrical Regulator.
Hot Chili has already sought long-term quotes from electrical market providers and advisors in the country, and the company said it was now set to begin selecting a provider for a power supply deal for Costa Fuego, with a binding contract slated for the December quarter.
According to Hot Chili, Costa Fuego is a low-energy-intensity development, with the company’s plans for raw seawater processing eliminating the need for a desalination plant at the project.
As such, the company said it expected to operate Costa Fuego fully with renewable power through a mix of solar, wind and hydroelectric supply, adding “significantly” to the project’s environmental credentials.
Hot Chili is on track to deliver its PFS for the project during the first quarter of 2023 and said the project was nearing infrastructural readiness as the company advanced port access and services discussions.
The company plans to kick off fresh exploration and resource growth drilling in the area towards the end of this year.
Shares in Hot Chili last traded at 80 cents on August 17.
