Philippine Daily Inquirer / 05:14 AM
January 10, 2019
One of the largest power generators
in Mindanao has sealed a deal to supply electricity to a major Compostela
Valley-based mining operation for the next five years, renewing a partnership
that began two years ago.
In a statement, the FDC Misamis
Power Corp. of the Gotianun group said it had signed an agreement with publicly
listed Apex Mining Corp. to supply the latter’s mining operations in one of the
island’s richest mine sites.
Under the contract, FDC Misamis will
provide Apex Mining 4 megawatts of power in the first two years or from 2019 to
2020, and up to 5 MW from 2021 to 2023.
FDC Misamis is a subsidiary of FDC
Utilities Inc., the power arm of conglomerate Filinvest Development Corp. It
operates a 3 x 135-MW circulating fluidized bed coal thermal plant in
Villanueva, Misamis Oriental.
The contract renewal means FDC
Misamis will remain the exclusive power supplier of Apexin, its processing
plant at its mine site at Masara, Maco, Compostela Valley.
FDC Misamis—one of Mindanao’s power
producers—has been Apex Mining’s power provider. It started commercial
operations in 2016 under a two-year 3-MW power pact that ended in December
2018.
FDC Misamis president and CEO Juan
Eugenio Roxas said the new contract with Apex would be a continuation of the
strong partnership between the two firms. —DAXIM L. LUCAS
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