New Pacific Metals Corp. has signed a Framework Agreement for Cooperation and Coordination with the Carangas community regarding 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 moves toward production. This framework outlines commitments to responsible development, environmental compliance, community investment, and resettlement planning. In return, the community has agreed to support consultation processes, permitting, and project access.
With this agreement in place, the company expects to complete the formal prior consultation process required by Bolivian regulations. Following this, New Pacific will seek to convert its exploration licenses into mining permits. Upon receiving permit approval, the company plans to commence a feasibility study and initiate a significant drilling campaign in 2026. This campaign is expected to involve more than 30,000 metres of drilling targeting both resource expansion and the discovery of new mineralized zones within the project area.
The Carangas project represents a strategic asset for New Pacific, strengthening the company's portfolio through scale, robust economics, and regional exploration potential. The framework agreement represents a critical step in advancing the project while addressing community relations and social license to operate. The company's approach emphasizes building confidence with local stakeholders through transparent processes and mutual benefit arrangements.
New Pacific has over a decade of operating experience in Bolivia, having developed relationships with various stakeholders throughout the country. The company's other major project in Bolivia, the Silver Sand project in Potosí, has been described as having the potential to become one of the world's largest silver mines. The latest news and updates relating to New Pacific are available in the company's newsroom at http://ibn.fm/NEWP. The full press release announcing the framework agreement can be viewed at https://ibn.fm/WzP7f.
The mining sector in Bolivia has seen increased attention from international companies in recent years, with several projects advancing through various stages of development. Agreements like this one between New Pacific and the Carangas community demonstrate how mining companies are increasingly prioritizing community engagement and transparent development processes. These approaches are becoming essential components of successful project advancement in regions where local support is crucial for long-term operations.
