Carmen Copper, Toledo Power sign electricity supply deal

Carmen Copper Corp. has signed a 12-year Electric Power Purchase Agreement with Toledo Power Co.

Atlas Consolidated said that pursuant to the terms of the EPPA, TPC would build and operate a 72-megawattnet output clean coal-fired power plant in Toledo City that will guarantee the supply of up to 60 MWx of electricity to CCC’s mining operations upon its commissioning by the end December 2014.

Carmen Copper Corp. is a subsidiary of Atlas Consolidated.

The EPPA hopes to supply the projected increase in CCC’s power requirements as a result of the intended expansion of its production capacity from 40,000 tons to 60,000 tons 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 whereby CCC would supply TPC with the coal needed to generate the electric power required by CCC.

The ECA will reduce CCC’s power procurement cost by P0.35 per kilowatthour. When the plant comes online, such cost will drop further by P0.30 per kWh.

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