Malaga Inc. (malaga)
Toronto Stock Exchange(TSX)
MONTREAL, April 9 /CNW Telbec/ - Malaga (TSX: MLG) and its Swiss joint
venture partner Emerging Power Developers S.A. ("EPD") are pleased to announce
that their new hydroelectric plant at Pasto Bueno located in the Department of
Ancash (Peru) has been put into commercial production.
The hydroelectric plant is made up of two Pelton type turbines (450 kW
and 150 kW) and has a rated capacity of 600 kW. The hydroelectric power
generated is, since January 2009, being supplied to the Pasto Bueno mine which
was previously using diesel generated power on-site.
Malaga's President & CEO, Jean Martineau, is very pleased with the
development of Pasto Bueno's hydroelectric potential which not only lowers the
Company's operating costs but also puts Malaga at the forefront of sustainable
mining practice and a leader its sector of activity. He has further stated
that "the development of Pasto Bueno's hydroelectric potential will not only
save the Company a considerable amount of money but will also allow it to
reduce its emissions of greenhouse gases (CO2 essentially). Furthermore,
Malaga is now 90% energy independent of the national power grid which will
protect the company from any future increases in cost of energy."
The building of the new hydroelectric plant was funded through the Clean
Development Mechanism ("CDM") under the Kyoto Protocol.
DEVELOPMENT OF THE HYDROELECTRIC POTENTIAL
The Pasto Bueno property, located at an altitude of more than 4,000
meters above sea level in the Andes, has a significant hydroelectric
An 800 kW hydroelectric plant had in past been built on the Pelagatos
River and used for several years before being decommissioned at the beginning
of this century. When Malaga began rebuilding the Pasto Bueno mine it also
initiated its hydroelectric project. Aside from reducing its operating costs
and improving its overall energy strategy the project will produce several
other beneficial impacts such as job creation and technology transfer
(engineering, maintenance and operational know-how).
The rehabilitation of hydroelectric power production at Pasto Bueno is
being implemented by Hidropesac a joint venture between Malaga and its Swiss
partner EPD (a company specialized in hydroelectric projects). EPD holds 51%
Finally, Hidropesac is currently planning Phase II of the development of
the hydroelectric potential of the Pelagatos River. Once this project has been
completed, Hidropesac should be able to sell the excess electrical power
For further information and for pictures of the plant, please visit the
"Hidropesac" section of Malaga's website (www.malaga.ca).
In the Press Release dated March 3rd, 2009 "Pasto Bueno: Technical report
details tungsten reserves and resources" an error was made. Under the table of
resources and reserves a note was added stating that "the resources given in
the above table do not include proven and probable reserves" this should have
read as follows "Measured and indicated resources given in the above table
include all the proven and probable reserves" Please excuse this error.
ABOUT MALAGA INC.
Malaga Inc. is a tungsten mining company that uses modern, efficient and
productive mining technology. The Company is committed to growth, through
increasing its tungsten concentrate production, continuing the exploration of
the Pasto Bueno property, and through strategic acquisitions. It also seeks
diverse growth opportunities such as developing the hydroelectric potential of
the Pasto Bueno property, through Hidropesac, in which the Company holds 44%,
as well as through its holding in Dynacor Gold Mines Inc., in which the
Company owns 13.3%.
Certain statements in the foregoing may constitute forward-looking
statements, which involve known and unknown risks, uncertainties and other
factors that may cause the actual results, performance or achievements of
Malaga, or industry results, to be materially different from any future
result, performance or achievement expressed or implied by such
forward-looking statements. These statements reflect management's current
expectations regarding future events and operating performance as of the date
of this news release.
For further information:
For further information: Jean Martineau, President & CEO, Malaga Inc.,