PPX Mining Initiates Operating Permit Process for Igor Processing Plant

PPX Mining Corp. has formally initiated the regulatory permitting process for its Igor processing plant in La Libertad, Peru. On October 19, 2026, the company submitted a request for inspection and verification of completed plant components to the Regional Management of Energy, Mines and Hydrocarbons. This step follows the completion of water pumping infrastructure, after which PPX submitted a water use license application to the Huarmey-Chicama Administrative Water Authority on October 23, 2026.

The Igor facility is a 350-tonne-per-day flotation and carbon-in-leach (CIL) plant. Most equipment at the site has been energized and operated individually as management emphasizes the transition from construction to commissioning, with the goal of establishing an integrated mining and processing operation.

The announcement comes shortly after a debt settlement on October 29, 2026, where the company issued 3.81 million shares at CAD $0.24 to settle $643,681 in royalty payments. This financial update follows high-grade drill results reported at Callanquitas on October 27, 2026.

PPX Mining Corp. (PPX) has initiated the operating and water use permitting processes, a standard procedural milestone in mining asset development that confirms civil construction and equipment installation are sufficiently advanced to warrant regulatory review. This development aligns with previous updates regarding plant construction progress and the targeted mechanical completion in Q4 2026.

The permitting process involves physical inspections and technical reviews, which are necessary steps but do not guarantee immediate commercial production. Delays in regulatory approvals or community relations, as seen in May 2026, remain a risk. The announcement does not introduce new financial data, unexpected operational breakthroughs, or changes to the company's capital structure, representing a routine step forward in the project timeline. Given the company's going concern flag and working capital deficiency, successful permitting is critical for securing future financing and demonstrating operational viability, though the announcement itself is incremental.

PPX Mining Corp. operates the Igor Project in the La Libertad region of northern Peru, with its flagship asset being the Callanquitas Mine. This operating underground mine is known for high-grade gold, silver, and copper mineralization. To capture additional value from mineral production, the company is constructing a 350-tonne-per-day carbon-in-leach and flotation processing plant at the Igor site.

Exploration is ongoing at Callanquitas East, Callanquitas West, and the Portachuelos project, with a focus on expanding oxide and sulfide resources. The company transitioned from a development-stage explorer to a cash-generating producer in 2025, with record Net Profit Interest (NPI) reported throughout the year.