Carmen Copper, Napocor ink power supply deal
Philippine Daily Inquirer
First Posted 22:19:00 03/17/2008
MANILA, Philippines--Carmen Copper Corp., a subsidiary of listed firm Atlas Consolidated Mining and Development Corp., has tapped National Power Corp. as its power supplier for the next three years.
In a statement, Napocor said the supply accord signed recently would be valid up to 2011 and would involve 40 megawatts (MW) of power.
The agreement states that the 40 MW that Napocor will supply to CCC's Toledo Copper Mine in Cebu will come from the state firm's excess capacity from the Leyte geothermal power plants of PNOC Energy Development Corp.
Delivery of power will start when National Transmission Corp. completes the capacity upgrade of its Leyte-Cebu submarine cables from the present 360 MW.
In a disclosure to the Philippine Stock Exchange, CCC said it was currently rehabilitating its copper mine in Toledo, with rehabilitation now 60-percent complete.
Abigail L. Ho
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