Manila Times.net
Published : Monday, January 02, 2012 00:00 Written by : Euan Paulo C. Añonuevo
Sagittarius Mines Inc. (SMI) is planning to put up a coal-fired coal power plant to support the operations of the Tampakan copper-gold project in South Cotabato.
Based on the draft transmission development plan of the National Grid Corp. of the Philippines (NGCP), SMI intends to construct a 250-megawatt coal plant for the Tampakan mine’s power requirements.
The power plant is targeted to be operational by 2014.
NGCP is the operator of the country’s transmission lines, or the facilities that bring power from generating plants to utilities for distribution to consumers.
NCGP’s transmission development plan is a 10-year blueprint of the capital projects it plans to undertake, such as a new 230/138 kilovolt substation it would have to put up to connect the proposed Tampakan coal plant to the grid.
The Tampakan copper-gold project, which is being deve?loped by SMI, is among the most attractive undeveloped long life, large-scale and low-cost copper deposits in the world.
The Tampakan deposit is projected to contain a 2.4 billion ton mineral resource with an estimated 13.9 million tons of copper and 16.2 million ounces of gold.
Its direct contribution to the Philippine economy over the known mine-life is estimated at $37 billion with an estimated $8 billion being paid in Philippine taxes and royalties.
SMI targets the first production from the mine by 2016. Estimated direct employment during construction is 10,000 people, with a workforce of 2,000 during operational period.
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