The company said that the Environmental Assessment Commission of Antofagasta, Chile approved the plan unanimously.
“I am pleased that within only six months of submitting the environmental impact statement to the authorities it has already been approved. This demonstrates the professionalism and efficiency of the environmental authorities of Antofagasta when presented with a coherent and attractive development plan," said president and chief executive officer Luis Tondo.
"Over the next few days we anticipate the granting of the environmental qualification resolution which will allow us to consider the many value opportunities for developing Marimaca.”
READ: Coro Mining shares head north after it unveils Marimaca 1-23 claim definitive feasibility study
In light of the approval, the company said it expects the environmental assessment resolution to be issued shortly and when in place, it will start processing sectorial permits.
Completion of this milestone will help advance the development decision for the Marimaca Project.
The company said it remains committed to current environmental regulations, shareholders, authorities and the communities surrounding its project to contribute positively to the economic and social progress of the II Region of Chile.
Shares of Coro were flat at C$0.10 on Thursday.