Sagittarius Mines, Alsons tie up for power project

Manila, Philippines -  Sagittarius Mines, Inc. (SMI) and Alsons Energy Development Corp. (AEDC) – a subsidiary of the Alcantara Group, have entered into an agreement for a joint feasibility study for the possible development by AEDC of a coal-fired power station in Maasim, Sarangani to meet the electrical power requirements for SMI’s Tampakan copper-gold project located in Tampakan, South Cotabato.

The potential power plant will be located in the Kamanga Agro-Industrial Ecozone operated by the Kamanga Agro-Industrial Ecozone Development Corp. (KAIEDC) in barangay Kamanga, Maasim.

Under the joint feasibility study, SMI and AEDC will look into the environmental, technical, and financial aspects of the prospective power station. The results of the joint study will help SMI make a final decision on whether AEDC will be selected as the power generation supplier for the Tampakan project. At the current time no final decision about a power source for the Tampakan project has been made.

AEDC will also be undertaking its own technical studies on the facilities needed by SMI. Both parties have a shared commitment to open engagement with the community ensuring that all aspects of the feasibility study are understood.

SMI and AEDC have also agreed that all prospective infrastructure development and operational procedures shall be screened through globally accepted environmental standards and best practices, as well as domestic laws and regulations.

Both parties welcome active community involvement and encourage all political, civil society and media stakeholders to actively participate in the study and to notify the parties of any possible concerns, which will be expeditiously and directly answered by AEDC and SMI. Both parties hope that the community process shall be imbued with fairness, transparency and goodwill towards all concerned.