New Pacific Metals Corp. has signed a Framework Agreement for Cooperation and Coordination with the Carangas community in connection with its Carangas silver-gold project in Bolivia's Oruro Department. The agreement establishes terms for transparency, mutual benefit and long-term collaboration as the project advances toward production, representing a significant milestone in the company's development timeline.
The framework outlines commitments to responsible development, environmental compliance, community investment and resettlement planning. In return, the community has agreed to support consultation, permitting and project access. This bilateral agreement creates a structured foundation for the project's advancement while addressing key social and environmental considerations that are critical for sustainable mining operations in the region.
With the framework in place, the company expects to complete the formal prior consultation process, seek conversion of exploration licenses to mining permits and, upon permit approval, commence a feasibility study. The company also plans a 2026 drilling campaign of more than 30,000 metres targeting resource expansion and new mineralized zones. These technical activities will build upon the project's existing potential, which the company describes as strengthening its portfolio through scale, robust economics and regional exploration potential.
The Carangas project represents one of two permitting stage precious metals projects New Pacific is advancing in Bolivia. The company's Silver Sand project in Potosí has the potential to become one of the world's largest silver mines, while the Carangas Silver-Gold Project in Oruro adds significant scale and exploration potential to the company's portfolio. With over a decade of operating experience in Bolivia, New Pacific has developed relationships and operational knowledge that support these development efforts.
The framework agreement's implications extend beyond immediate project development. For the mining industry, it demonstrates how formal community agreements can facilitate project advancement while addressing social license concerns. For investors, it represents a de-risking milestone that moves the project closer to production while establishing clear parameters for community relations. For Bolivia, it represents continued foreign investment in the mining sector and potential economic development in the Oruro region.
The company's shares trade on the Canadian Securities Exchange under the symbol "NUAG" and on the New York Stock Exchange under the symbol "NEWP." Additional information about the company is available through its communications channels, including its newsroom at http://ibn.fm/NEWP. The original press release announcing this development can be viewed at https://ibn.fm/WzP7f.
This agreement comes at a time when global demand for silver and gold remains strong, driven by industrial applications, investment demand and jewelry markets. The successful implementation of this framework could serve as a model for other mining companies operating in regions where community relations are critical to project success. As the company moves forward with permitting and feasibility studies, the structured approach established through this agreement provides a clear pathway for advancing the Carangas project while maintaining community support and addressing environmental considerations.
