Dundee receives court decision on permitting process for Loma Larga

Dundee Precious Metals announced that a decision on the appeal of the Constitutional Protective Action filed against the Ministry of Environment, Water and Ecological Transition was delivered by the Provincial Court of Azuay in Ecuador. Based on the Company’s preliminary analysis, the decision reaffirmed DPM’s mining concessions for the Loma Larga project, and clarified that free, prior and informed consultation of certain local indigenous populations must be carried out by the state, which the Company had already planned as part of its development of the project. The decision also held that environmental consultation with communities in the project’s area of influence and certain additional reports on the impact of the project on water resources and the Quimsacocha National Recreation Area would need to be provided by the MAATE to the Court prior to advancing the project to the exploitation phase. “As we assess the court’s decision, we remain committed to the highest applicable standards for environmental protection and stakeholder engagement in-line with International Finance Corporation standards,” said David Rae, President and Chief Executive Officer. “DPM will be engaging with the government to outline the next steps for the consultation activities and, based on the extensive environmental work completed to date, we will work with MAATE to provide any additional detail as quickly as possible. We will continue to take a disciplined approach to future investment and advancement of the Loma Larga project based on the receipt of key milestones and the overall operating environment in country.”