- Write by:
-
Sunday, April 5, 2020 - 11:54:28 AM
-
979 Visit
-
Print
Mining News Pro - Centinela, 70% owned by copper mining group Antofagasta, has signed a power contract for renewable energy with Engie Energía Chile
According to Mining News Pro - Effective from 2022 until 2033, 100% of the power supplied to the Centinela copper mine in the Antofagasta region will be from renewable sources.
As part of the transaction Centinela will cancel two existing PPAs, which would have expired in 2026 and 2027, respectively. It will sell its indirect 40% interest in the Hornitos thermal power station to Engie, resulting in an attributable post-tax write-down of approximately US$43 million, which will be recognised in Antofagasta`s half-year financial results.
After the write-down, the company said, the new renewable energy contract will be value accretive as power costs will be significantly reduced in stages from 2020 onwards.
Antofagasta CEO Iván Arriagada said: "With the completion of this agreement, from 2022 all our mining division`s power will be from renewable sources and at a lower cost as well. This is an important step in achieving our target to reduce our carbon emissions by 300,000 tonnes by 2022."
The remaining 30% of Centinela, which mines sulphide and oxide deposits, is owned by Marubeni Corporation.
Short Link:
https://www.miningnews.ir/En/News/510493
A Native American group has asked all members of a US appeals court on Monday to overturn an earlier ruling that granted ...
Codelco is exploring more partnerships with the private sector as Chile’s state copper behemoth looks to recover from a ...
The London Metal Exchange (LME) on Saturday banned from its system Russian metal produced on or after April 13 to comply ...
Peru’s Las Bambas copper mine, owned by China’s MMG, is facing renewed blockades of a key transport route after failed ...
Vitol Group confirmed that it’s starting to rebuild a trading book for metals after a long stint out of the market, with ...
Chinese investors are snapping up stocks tied to high-flying metals from copper to gold, aiding an onshore market facing ...
Copper traded near a 15-month high as supply concerns and brighter demand prospects triggered a slew of bullish calls on ...
Copper jumped to its highest intraday price since January 2023 as the bellwether industrial metal faces rising tighter ...
Mining News Pro - Amir Khormishad, the CEO of the National Copper Industries Company of Iran, announced the 49% growth ...
No comments have been posted yet ...