The Carmen Copper Corporation
Strategically located in the west-central highlands of the island of
Cebu lies the country’s largest copper mine and leading base metal
exporter—the Carmen Copper Corporation’s Toledo Mine.
The
mine was previously operated by its mother company, the Atlas
Consolidated Mining and Development Corporation (“Atlas”) from 1955
until 1994 when low metal price forced the company to suspend mining
operations. In 2004, a major restructuring of Atlas led to the inception
and incorporation of three separate subsidiaries, namely: Carmen Copper
Corporation (CCC), Berong Nickel Corporation and AquaAtlas Inc. By
2006, CCC obtained through Crescent Asian Special Opportunities
Portfolio, a Singapore-based investment group, a US$40 million funding
package and US$100 million loan agreement with Deutsche Bank.
Since its commercial operations in 1968, Toledo Power Company (TPC)
is considered to be one of the older power plants under the portfolio of Global Power,
offering technical expertise for more than 40 years following word class standards.
Under its belt, TPC operates two power plants. The first being the Sangi Power
Station situated in Toledo City Cebu. The Sangi power station is a coal fired thermal
power plant using the atmospheric fluidized bed boiler technology. With its rehabilitation,
the Sangi Power Station has reached its maximum capacity of 60MW, augmenting power requirements in Cebu City.
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