| Date 2/22/2012 |
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Volume 1449650 |
16/2/2012
Malaga To Build New Hydroelectric Plant in Peru
Additional Power Will Continue To Significantly Reduce
Tungsten Production Costs At Pasto Bueno Mine
Construction Permit Expected by End of 2012
... more
| 9/1/2012
Malaga Announces Appointment of Fernando Pajuelo Rincon as General Manager at Its Pasto Bueno Tungsten Mine
MONTREAL, QUEBEC--(Marketwire - Jan. 9, 2012) - Malaga Inc. ("MLG")(TSX:MLG)(OTCQX:MLGAF) announces the appointment of Fernando Pajuelo as General Manager in charge of mining operations at the Company's Pasto Bueno tungsten mine in Peru. Mr. Pajuelo ... more
| 2/12/2011
MALAGA ANNOUNCES APPOINTMENT OF PIERRE MONET AS PRESIDENT AND CHIEF EXECUTIVE OFFICER
Montreal, December 2, 2011 – The Board of Directors of Malaga Inc. (gMLGh) today announced the appointment of Pierre Monet as President and chief executive officer, replacing Jean Martineau who will remain Chairman of the Company and Presiden... more
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In addition to extensive underground tungsten ore resources, the Pasto Bueno property has considerable hydroelectric water resources. In the past, two hydroelectric plants were in operation: an 800 kW unit and a smaller 150 kW unit. The hydrological resources of the Pelagatos River and the Pelagatos head lake (representing a 12-million cubic meter reservoir) guaranteed the continuous operation of these two plants.
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Development of the Hydroelectric Potential
A joint venture between Malaga and its Swiss partner Emerging Power Developers (EPD) a subsidiary of Stucky S.A has built and commissioned a hydroelectric plant on the Pelagatos River, which runs directly through the Pasto Bueno property. The hydroelectric plant uses the river flow directly without any additional hydrological infrastructure. The use of hydroelectric power has three advantages: lower costs, eliminate the impact of variations in the price of fossil fuels in the world markets and finally drastically reduce the carbon footprint of Malaga’s mining operations. Malaga will thus be at the forefront of sustainable mining practice and a leader in its sector of activity. |
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The building of the new hydroelectric plant was financed through the Clean Development Mechanism by the sale of carbon credits under the Kyoto Protocol which is implemented by the United Nations Framework Convention on Climate Change (UNFCCC). The newly installed hydroelectric plant at Pasto Bueno has led to a reduction of 4,000 tons per year in carbon dioxide emissions – effectively replacing the use of fossil fuel generated power by an environmentally friendly renewable energy source. |
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Hydroelectric Power Outlook
In the near future, Malaga intends to pursue the development of the hydroelectric potential of its Pasto Bueno property with the goal of producing all of its power requirements on-site and insuring its total operational independence from outside sources of energy. |
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In phase II of the development of the property’s hydroelectric potential, Malaga intends to install a 2nd hydroelectric plant that will not only cover all of its long-term power needs but will also allow Hidropesac to generate additional electricity that will be sold to the national power grid and generate further income for the joint venture. |
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