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PPX Subscribes MOU With CVC for Energy Supply
TORONTO, ON / ACCESSWIRE / July 22, 2024 / PPX Mining Corp. (the " Company " or " PPX ", includi...
About this update from Ppx Mining Corp.
[{"type":"text","content":"PPX Subscribes MOU With CVC for Energy SupplyTORONTO, ON / ACCESSWIRE / July 22, 2024 / PPX Mining Corp. (the \"Company\" or \"PPX\", including its Peruvian subsidiaries) is pleased to announce that is has subscribed a Memorandum of Understanding with Consorcio Eléctrico de Villacurí S.A.C. (\"CVC\") in respect to a strategic collaboration to supply electricity at the CIL and flotation plant that the Company intends to build (the \"Processing Plant\"). The Processing Plant will initially process oxide and sulphide ore from its Callanquitas Mine, located in La Libertad, Peru.As part of the understanding, CVC will invest an amount equal to the cost of capital required to supply energy at the Processing Plant and will lead the execution of the electrical interconnection project (the \"Project\").In consideration for CVC´s commitment, both parties will subscribe an energy supply contract that will enhance production capabilities of the Processing Plant.CVC's proposal was selected after analyzing others, including gas and diesel alternatives. The proposal not only optimizes the processing operation, but also constitutes an efficiency and sustainability milestone for the region. In addition, it reduces the pre-production capital cost to build the Processing Plant.The Project will be evaluated during the following months with the objective to subscribe a final agreement between the parties.CVC is a well-known firm in Peru, focused in the energy sector and committed to innovation and sustainable development.John Thomas, CEO commented \"we are very pleased to subscribe this MOU with CVC. This Project will materially reduce our pre-production capex by increasing marginally our opex per tonne. It will also enhance our processing capabilities using a responsible and sustainable source of energy\".About PPX Mining Corp:PPX Mining Corp. (TSX.V:PPX.V)(BVL:PPX) is a Canadian-based mining company with assets in northern Peru. Igor, the Company's 100%-owned flagship gold and silver project, is located in the prolific Northern Peru gold belt in eastern La Libertad Department.On behalf of the Board of DirectorsJohn ThomasChief Executive Officer82 Richmond Street EastToronto, Ontario M5C 1P1Canada416-361-0737Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Ex...