US MULTI-BILLION MINING FIRM PLANNING 189-MW POWER PLANT COMPLEX IN COMPOSTELLA (DAVAO)
“DAVAO CITY — St. Augustine Gold and Copper Ltd. (SAGC) will build a 189-megawatt (MW) power complex for its King-king copper and gold project in Pantukan, Compostela Valley next year.
Clyde Gillespie, country director of SAGC, which has partnered with Nationwide Development Corp. (Nadecor), said in a statement that the power plant complex will have two coal-fired plants, each with an 80-MW capacity, and a 29-MW bunker fuel-fed plant.
The bunker fuel plant, Mr. Gillespie said, will alternate when one of the coal-fired plants is out of commission, either due to maintenance or if it conks out. With the normal two-year construction period, the additional power would be on stream before 2017.
“We need to operate with an assured power source,” the SAGC officer said.
Though Mr. Gillespie did not mention the amount set aside for the power plants, Ian Gibbs of Singapore-based Bromius Capital Pte. Ltd., adviser of SAGC, said that part of the funds to be generated by next year will be used for the power complex.
Mr. Gibbs said that Bromius has been helping SAGC “raise a significant amount by next year” so that the company will be on target, after it announced it will start commercial operations by 2017.”