VANCOUVER, BC, April 7, 2021 /CNW/ - Trevali Mining
Corporation ("Trevali" or the "Company") (TSX: TV) (BVL:
TV) (OTCQX: TREVF) (Frankfurt:
4TI) is pleased to
announce it has entered into a 15 year renewable Power
Purchase Agreement (the "PPA") with Emerging Markets Energy
Services Company
("EMESCO") for the supply of solar power
to Trevali's
Rosh Pinah Mine, located in Namibia.
Trevali has committed to achieving an overall Green House Gas
("GHG") emission reduction target of 25% by 2025 from its 2018
baseline. The PPA with EMESCO is anticipated to deliver 30% of Rosh
Pinah's power requirements during the life of the agreement and
reduce GHG emissions at the Company level by 6%.
EMESCO will be responsible for the design, permitting, financing
and implementation of a solar energy system on a neighbouring
property at no cost to Trevali. EMESCO will sell the power
generated to Trevali at a fixed rate that
is expected to reduce energy
costs by 18% over the fifteen-year term of
the agreement.
EMESCO was chosen based on a variety of factors, including
expertise in the field of renewable energy, an understanding of the
scope of work required, the ability to execute and deliver on
Trevali's requirements, and pricing.
If Trevali makes a positive investment decision on the
RP2.0 expansion project, EMESCO will
increase the delivery of power to Rosh Pinah to remain at 30% of
the mine's annual energy consumption as regulated by the Modified
Single Buyer framework in Namibia.
Ricus Grimbeek, President & CEO, stated, "Our sustainability
program commits to significant reductions in GHG emissions, and
with the signing of this agreement with EMESCO we have taken a
major step towards delivering on our commitment by securing
renewable energy while also reducing our expected energy costs.
The agreement with EMESCO has been designed to scale with the
output of the mine so that when we are ready to make the decision
to build the RP2.0 Expansion project,
the delivery of power will increase to match our requirements.
We are extremely excited by this partnership at Rosh Pinah and
continue to study ways to reduce Trevali's GHG emissions and
deliver on this and our other sustainability targets."
ABOUT TREVALI
Trevali is a global base-metals mining Company headquartered in
Vancouver, Canada. The bulk
of Trevali's revenue is generated from base-metals mining at
its four operational assets: the 90%-owned Perkoa Mine in
Burkina Faso, the 90%-owned Rosh
Pinah Mine in Namibia, the
wholly-owned Caribou Mine in northern New Brunswick, Canada and the wholly-owned
Santander Mine in Peru. In
addition, Trevali owns the Halfmile and Stratmat Properties
and the Restigouche Deposit in New
Brunswick, Canada, and the past producing Ruttan Mine
in northern Manitoba, Canada.
Trevali also owns an effective 44% interest in the Gergarub
Project in Namibia, as well as an
option to acquire a 100% interest in the Heath Steele
deposit located in New Brunswick, Canada.
The shares of Trevali are listed on the TSX (symbol TV), the
OTCQX (symbol TREVF), the Lima Stock Exchange (symbol TV), and
the Frankfurt Exchange (symbol 4TI). For further details on
Trevali, readers are referred to the Company's website
(www.trevali.com) and to Canadian regulatory filings on
SEDAR at www.sedar.com.
About EMESCO
EMESCO is a full lifecycle energy services company operating in
the renewable energy markets of Southern Africa. EMESCO
delivers reliable, cost-effective, clean energy, having implemented
32 MW of Solar PV projects in the region. Emesco develops,
implements, operates and maintains renewable
energy assets for commercial, industrial and
utility scale customers in Namibia.
Cautionary Note Regarding Forward–Looking Information and Statements
This news release contains "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"). Forward-looking statements are based
on the beliefs, expectations and opinions of management of the
Company as of the date the statements are published, and the
Company assumes no obligation to update any forward–looking
statement, except as required by law. In certain cases,
forward-looking statements can be identified by the use of words
such as "plans", "expects", "outlook", "guidance", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or
"believes", or variations of such words and phrases or statements
that certain actions, events or results "may", "could", "would",
"might", "will be taken", "occur" or "be achieved" or the negative
of these terms or comparable terminology.
Forward–looking statements relate to future events or future
performance and reflect management's expectations or beliefs
regarding future events including, but not limited to, statements
with respect to the PPA with EMESCO, including the anticipated term
of the PPA and the power consumption requirements at the Rosh Pinah
mine over this period, the ability of EMESCO to design, permit,
finance and implement a solar energy system on a neighbouring
property at no cost to the Company, EMESCO's ability to supply the
contracted amount of power at a fixed rate over the term of the PPA
and the cost savings to the Company as a result of same, the impact
of the PPA on the reduction in GHG emissions at Rosh Pinah and the
contribution of same to achieving Trevali's broader sustainability
targets, the Company's growth strategies and planned development
activities, including the potential expansion of the Rosh Pinah
mine, the timing and amounts of estimated future production,
success of mining activities, environmental risks, and the impact
on the Company's operations of current and future actions taken by
governmental authorities, counterparties and others to the COVID-19
pandemic. 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 the
Company to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking statements. Such factors include, among others,
risks related to the PPA with EMESCO, including that EMESCO may not
be able to successfully design, permit, finance and implement the
solar energy system in the manner contemplated by the PPA, or at
all; that the PPA may not deliver the expected cost savings and GHG
emissions reduction; changes in project parameters as plans
continue to be refined, including with respect to the RP 2.0 expansion project; future prices of zinc,
lead, silver and other minerals and the anticipated sensitivity of
our financial performance to such prices; possible variations in
ore reserves, grade or recoveries; dependence on key personnel;
labour pool constraints; labour disputes; availability of
infrastructure required for the development of mining projects;
delays or inability to obtain governmental and regulatory approvals
for mining operations or financing or in the completion of
development or construction activities; counterparty risks;
increased operating and capital costs; foreign currency exchange
rate fluctuations; operating in foreign jurisdictions with risk of
changes to governmental regulation; compliance with governmental
decrees and regulations, including any new or ongoing decrees and
regulations issued by a governmental authority in response to the
COVID-19 pandemic; compliance with environmental laws and
regulations; land reclamation and mine closure obligations;
challenges to title or ownership interest of our mineral
properties; maintaining ongoing social license to operate; impact
of climatic conditions on the Company's mining operations;
corruption and bribery; compliance with debt covenants; our ability
to raise capital; competition in the mining industry; our ability
to integrate new acquisitions into our operations; cybersecurity
threats; litigation; and other risks of the mining industry
including, without limitation, other risks and uncertainties that
are more fully described in the Company's annual information form,
interim and annual consolidated financial statements and
management's discussion and analysis of those statements, all of
which are filed and available for review under the Company's
profile on SEDAR at www.sedar.com. Although the Company has
attempted to identify important factors that could cause actual
actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors
that cause actions, events or results not to be as anticipated,
estimated or intended. Trevali provides no assurance that
forward-looking statements will prove to be accurate, as actual
results and future events may differ from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking statements.
SOURCE Trevali Mining Corporation