Capstone Mining Corp. (“Capstone”) and Yukon Energy are working together to identify energy efficiency opportunities at Capstone’s Minto Mine (“Minto”). As part of Minto’s continuous improvement process and Yukon Energy’s electricity conservation initiatives, the two corporations are sharing the cost of having an energy audit done of the property. The goal is to help the mining operation reduce its energy use per tonne of ore milled and manage its peak demand load.
The energy audit will be done by Hatch, a firm from Toronto that specializes in industrial energy audits. It will document past and current electricity use, compare that usage to other similar operations, and provide recommendations for energy saving opportunities. Each recommendation for energy efficiency improvements will include a cost-benefit analysis. The auditing company will also provide a proposal for managing peak load.
“Energy conservation is a critical element in helping us meet Yukon’s growing energy needs,” Yukon Energy spokesperson Janet Patterson said. “We are working with all our customer classes to find ways of making the most efficient use of the territory’s available electricity, and we’re very pleased to have an opportunity to partner with Minto on this initiative.”
“This is a tremendous opportunity for the Minto Mine,” said Ron Light, Minto Mine General Manager. “We are always looking at ways to continuously improve our operations and identify cost reduction opportunities and this initiative has the potential to optimize our operations well into the future.”
The audit will be completed later this summer, with a final report expected before the end of this year. Capstone and Yukon Energy will share the cost of the audit equally, with an additional 25 percent to be reimbursed by Yukon Energy should Minto implement energy conservation measures that result in a reduction of current annual consumption.
VP, Investor Relations and Communications
Capstone Mining Corp.
Yukon Energy Corporation
About Capstone Mining Corp.
Capstone Mining Corp. is a Canadian base metals mining company, committed to the responsible development of our assets and the environments in which we operate. We are preferentially focused on copper, with two producing copper mines, the Cozamin copper-silver-zinc-lead mine located in Zacatecas State, Mexico and the Minto copper-gold-silver mine in Yukon, Canada. In addition, Capstone has two development projects, the large scale 70% owned Santo Domingo copper-iron-gold project in Chile in partnership with Korea Resources Corporation and the 100% owned Kutcho copper-zinc-gold-silver project in British Columbia, as well as exploration properties in Canada, Chile, Mexico and Australia. Using our cash flow and strong balance sheet as a springboard, Capstone aims to grow with continued mineral resource and reserve expansions, exploration, and through acquisitions in politically stable, mining-friendly regions. Our headquarters are in Vancouver, Canada and we are listed on the TSX. Further information is available at www.capstonemining.com.
About Yukon Energy Corporation
Established in 1987, Yukon Energy is a publicly owned electrical utility that operates as a business, at arm’s length from the Yukon government. We are the main generator and transmitter of electrical energy in the Yukon.
Cautionary Note Regarding Forward-Looking Information
This document may contain "forward-looking information" within the meaning of Canadian securities legislation and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively, "forward-looking statements"). These forward-looking statements are made as of the date of this document and Capstone does not intend, and does not assume any obligation, to update these forward-looking statements, except as required under applicable securities legislation. By their very nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Capstone to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.
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