Chañaral, Chile, October 24, 2026: Halo Minerals has secured a key mining permit for its Playa Verde copper-gold tailings project in northern Chile, marking a significant regulatory milestone as the company advances plans to recover valuable metals from historic mining waste.
The permit was granted to the company’s wholly owned subsidiary, Minera Playa Verde SpA, under Article 17 No. 1 of the Chilean Mining Code. It authorises mining activities associated with dredging mineral-bearing material from Chañaral beach, including areas within the urban zone.
The approval brings the project closer to a final investment decision (FID), although additional permits and authorisations are still required before development can proceed.
Permit Approval Advances Project Development
The latest authorisation represents an important step in Halo Minerals’ efforts to advance the Playa Verde project through its remaining regulatory and development requirements.
Chile’s Regional Ministerial Secretariat for Housing and Urban Development in the Atacama region confirmed that it had no objection to granting the permit. The project has also received a favourable environmental assessment following a review process that included a decision by Chile’s Committee of Ministers in October 2025.
Halo Minerals said it would continue working towards securing the remaining sector-specific authorisations. The company has already submitted an application for a mining easement and is progressing its application for a maritime concession.
Andrew Dennan, chief executive of Halo Minerals, described the approval as another important milestone, highlighting the progress made across the project’s permitting and development workstreams.
Recovering Copper from Historic Mining Waste
Unlike conventional mining projects that depend on extracting ore from newly developed deposits, Playa Verde is designed to recover copper from historic mine tailings accumulated along the Chilean coastline.
The project involves dredging mineral-bearing material from Chañaral beach and transporting it to a metallurgical processing plant. The material would be treated to recover copper in the form of cathodes and concentrates, with the processed residue subsequently returned to the beach following treatment and conditioning.
The approach could provide an additional source of copper while addressing the environmental challenges associated with historic mining waste. However, the project’s ultimate environmental benefits will depend on the effectiveness of its processing and rehabilitation measures.
Production Targets and Financial Outlook
Halo Minerals plans to process approximately 5 million tonnes of mineral-bearing material annually, targeting around 8,600 tonnes of payable copper per year.
The project has been assessed as having the potential to generate approximately $50 million in annual cash flow, according to project estimates reported by Mining Weekly. These figures represent projected performance rather than guaranteed production or financial results.
In a separate technical update announced on October 16, 2026, Halo Minerals reported that the project’s ore reserves had increased by approximately 5.4% to 33.94 million tonnes.
The updated reserve-based assessment indicated an after-tax net present value of approximately $174.3 million and an internal rate of return of 45.6%, based on the company’s stated assumptions. These estimates will remain subject to project execution, financing, operating costs, copper prices and other commercial factors.
Copper Supply Opportunities Drive Interest in Tailings Recovery
The development comes amid growing interest in alternative sources of copper as demand increases across electricity infrastructure, renewable energy, electric vehicles and data centres.
Recovering metals from existing mining waste could complement conventional mining by making previously discarded mineral resources available for further processing. It may also offer an alternative to developing entirely new deposits, although the economics of tailings projects depend on mineral grades, recovery rates, processing technology and environmental requirements.
For Halo Minerals, successfully advancing Playa Verde could establish a pathway for commercial copper recovery from historic mine waste while potentially addressing longstanding environmental concerns associated with accumulated tailings.
Outlook: Remaining Approvals and Investment Decision in Focus
The mining permit marks a significant milestone, but it does not mean that construction or commercial production can begin immediately. Halo Minerals must continue progressing the remaining regulatory, technical, commercial and financing workstreams before reaching a final investment decision.
Investors will be watching for further approvals, confirmation of project financing and updates on development timelines.
The key milestone for Halo Minerals is now to convert regulatory progress into a fully financed, commercially viable copper recovery operation. If successful, Playa Verde could offer the company an opportunity to contribute to copper supply while demonstrating the potential of recovering valuable metals from historic mining waste