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. This agreement establishes formal terms for transparency, mutual benefit, and long-term collaboration as the project progresses toward potential production.
The framework outlines commitments to responsible development, environmental compliance, community investment, and resettlement planning. In return, the community has agreed to support consultation processes, permitting activities, and project access. This structured partnership represents a critical step in de-risking the project's social license to operate, a factor increasingly important to investors and stakeholders in the mining sector.
With this agreement in place, New Pacific expects to complete the formal prior consultation process required by Bolivian regulations. The company will then seek to convert its exploration licenses to mining permits. Upon permit approval, the company plans to commence a feasibility study and initiate a substantial drilling campaign in 2026 targeting more than 30,000 metres. This drilling program aims to expand known resources and identify new mineralized zones, potentially increasing the project's scale and economic viability.
The Carangas project strengthens New Pacific's portfolio alongside its Silver Sand project in Potosí, which has the potential to become one of the world's largest silver mines. The company's decade of operating experience in Bolivia positions it to navigate the country's regulatory environment effectively. For business leaders and investors, this development demonstrates how formal community agreements can accelerate project timelines and reduce operational risks in emerging markets.
The agreement's emphasis on transparency and mutual benefit reflects evolving industry standards where successful resource development increasingly depends on strong local partnerships. For the global precious metals sector, successful advancement of projects like Carangas could contribute to future silver and gold supply, particularly as demand for these metals continues in both industrial and investment applications. More information about the company is available in its newsroom at http://ibn.fm/NEWP.
