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Carmen Copper Corporation signs a 12-year power purchase agreement with Toledo Power Company

Carmen Copper Corporation (CCC), a wholly-owned subsidiary of Atlas Consolidated Mining and Development Corporation which operates the Toledo copper mine in the province of Cebu, had just signed a twelve-year Electric Power Purchase Agreement (the "EPPA") with Toledo Power Company (TPC).
Pursuant to the terms of the EPPA, TPC will build and operate a 72-megawatt net output clean coal-fired power plant in Toledo City (the "Plant") that will guarantee the supply of up to 60 megawatts of electric power to CCC's mining operations upon its commissioning which is expected by the end of December 2014. The EPPA was entered into to provide for the projected increase in CCC's power requirements as a result of the intended expansion of its production capacity from 40,000 tonnes of copper ore per day to 60,000 tones of copper ore per day.

While CCC and TPC await the start of the Plant's operations, they have entered into an Energy Conversion Agreement (the "ECA") whereby CCC shall supply to TPC the coal needed to generate the electric power required by CCC. The ECA will reduce CCC's power procurement cost by PhPO.35 per kilowatt-hour. When the Plant comes online, such cost will drop further by PhPO.30 per kilowatt-hour.

Through its partnership with TPC under the EPPA and the ECA, CCC established firm access to a long-term power source in accordance with its cost minimization strategy.
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"Carmen Copper Corporation signs a 12-year power purchase agreement with Toledo Power Company" was written by Mary under the Business category. It has been read 2325 times and generated 0 comments. The article was created on and updated on 06 June 2012.
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