en.Wedoany.com Reported - Solaris Resources (TSX:SLS) announced that it has received the technical approval of the Environmental Impact Assessment for its Warintza copper project in southeastern Ecuador, a key milestone in the permitting process following an 18-month review by Ecuador's Ministry of Environment and Energy.
The approval was granted after the ministry completed a detailed evaluation covering environmental baseline studies, water resource management, biodiversity conservation, infrastructure design, geological understanding, and community engagement frameworks. The technical approval indicates that the project meets the environmental and engineering standards set by regulators, eliminating a significant layer of permitting risk and enabling Solaris to advance to the next stage of development.
This milestone also allows Solaris to draw down the second tranche of $50 million under its $200 million financing agreement with Royal Gold, completed in May 2025. The release of this additional funding was contingent on the publication of a pre-feasibility study in November 2025 and receipt of the technical environmental approval, both conditions of the financing package. The funds are expected to support ongoing project work, including next-stage permitting, infrastructure planning, and regional-scale exploration. The third tranche of $50 million under the financing package is expected to become available one year after the agreement's signing.
Following the technical approval, the Warintza project will proceed through the remaining stages of Ecuador's environmental permitting and development approval process, a key component of which is the government-led free, prior, and informed consultation process with local communities. Government officials conducted initial site visits in 2025 to assess the project's readiness for the consultation phase, and the formal process is expected to commence shortly. Solaris aims to achieve a fully permitted project by the end of 2026, and completing these steps would position Warintza as one of the few large-scale copper projects nearing development-ready status within that timeframe.
Warintza is considered one of the most significant undeveloped copper assets globally. Ongoing technical work supports its scale and long-term development potential, while engagement with local communities remains a key component of project advancement. The technical environmental approval represents significant progress for Solaris Resources as it continues to advance permitting, infrastructure planning, and exploration activities, while also unlocking additional funding.
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