New Pacific Metals Corp. (NEWP) secured a Framework Agreement for Cooperation and Coordination with the Carangas community in Bolivia’s Oruro Department, a critical milestone that removes a major social‑licensing obstacle for the company’s flagship Carangas project.
The agreement establishes a general framework of transparency, fairness, and mutual benefits, and includes fixed annual contributions to a community development fund, support for community members, and respect for ancestral rights. In return, the community commits to supporting the permitting process and granting operational access.
With the agreement in place, New Pacific can complete the formal prior consultation required by Bolivian law and submit an application to the National Assembly to convert its exploration licenses into a mining permit. The company will then launch a feasibility study and an extensive 2026 drilling campaign that will target more than 30,000 metres of infill drilling, bringing the project closer to production.
The announcement was met with a positive market reaction, as investors and analysts highlighted the de‑risking of the Carangas project and the company’s strong balance sheet, which provides the financial flexibility to fund the upcoming drilling and feasibility work.
New Pacific’s focus on the Carangas and Silver Sand projects positions it as a leading developer of high‑grade silver assets in Bolivia. The Carangas project is one of the largest undeveloped open‑pit silver projects worldwide, and the company’s 2024 Preliminary Economic Assessment underscored its high‑margin potential. The community agreement, combined with the company’s cash‑rich balance sheet, strengthens its ability to advance the project toward production.
Looking ahead, the company plans to use the 2026 drilling campaign to refine resource estimates and support a feasibility study that will set the stage for a future mining permit and production timeline. The milestone reinforces New Pacific’s trajectory toward becoming a significant producer of silver and other precious metals in Bolivia.
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