June 27, 2013

Meralco, Philex in talks for coal power plant in Surigao

Philex Mining Corp. and Manila Electric Co. (Meralco) are in talks for the possibility of putting up an  80-megawatt coal-fired power plant in Surigao del Norte said Manuel V. Pangilinan, who chairs both companies. The project is related to the development of the mining project in Surigao del Norte.

The target for the commercial operation of the mine is 2017. The Surigao del Norte mine involves the Silangan project, located at the northern part of the Philippines’ second-largest island of Mindanao and combines the development of the Boyongan and Bayugo deposits, which are comprised of gold, copper and silver. - WealthSec