TORONTO, ON / ACCESSWIRE / October 21, 2024 / PPX Mining Corp. (the "Company" or "PPX", including its Peruvian subsidiaries) announces that on October 19, 2024 it subscribed an Engineering Procurement and Construction ("EPC") agreement with Sertecpet de Peru S.A. ("Sertecpet") to build most of PPX's 350 tpd CIL and Flotation plant (the "Plant") for its Igor Project, located in La Libertad, Peru.
Sertecpet will carry out the following activities:
Additional detailed engineering.
Site preparation and all civil works for crushing, grinding, leaching and flotation systems, including all concrete construction.
Equipment purchasing as specified by PPX, including all logistics and customs clearance.
Construction materials purchasing, including all logistics.
Mechanical installation of equipment, crushing, grinding and flotation units, including electrical and piping works. A qualified subcontractors will supply and install the carbon treatment (desorption plant).
Office buildings, workshop and accommodation will be built by other contractors, as well as, leaching tanks, tailings storage area, water supply and power supply.
The budget of the EPC contract is US$5.7 million, plus applicable sales taxes. The contract contemplates construction completion guarantees and daily penalties for late delivery.
Construction is scheduled to conclude in 12 months (turnkey basis).
About SERTECPET
SERTECPET is a multinational company with more than 33 years of experience in Projects, Operations and Maintenance. In Latin America has strong presence in Ecuador, Peru, Colombia, Brazil and Argentina at the Oil & Gas, Mining, Energy and Infrastructure sectors. It manufactures process equipment and executes electromechanical assemblies; as well builds and maintains storage tanks. Finally, it specializes in turnkey projects (Engineering, Procurement & Construction) for the start-up of industrial plants.
Has successfully completed several projects in both the private and public sectors. Among these projects, there are several works such as the construction of crude oil production plants throughout the Amazon region, prioritizing environmental care and local communities. All this has been possible thanks to SERTECPET's strong corporate culture, which considers its people and their safety as its main organizational asset.
It has developed a solid Integrated Quality, Environmental, Occupational Health and Safety Management System that accredits it to perform under international standards: ISO 9001, ISO 14001, ISO 45001. It has also established an Anti-Bribery Management System, certified under ISO 37001.
SERTECPET has modern industrial plants, with processes and continuous improvement, whose best practices have allowed it to contribute directly to productivity and to the improvement of competitiveness indexes in the international energy market. Its standards are based on the API Q1 and Q2 norms of the American Petroleum Institute and the ASME stamp.
About PPX Mining Corp:
PPX Mining Corp. (TSX.V: PPX.V, BVL: PPX) is a Canadian-based mining company with assets in northern Peru. Igor, the Company's 100%-owned flagship gold and silver project, is located in the prolific Northern Peru gold belt in eastern La Libertad Department.
On behalf of the Board of Directors
John Thomas
Chief Executive Officer
82 Richmond Street East
Toronto, Ontario M5C 1P1
Canada
416-361-0737
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement:
This press release contains forward-looking information and forward-looking statements (collectively, "forward-looking statements") as such terms are defined by applicable securities laws, including, but not limited to statements regarding test results, future plans or management estimates. Forward-looking statements are statements that relate to future events. In this context, forward-looking statements often address expected future business plans and financial performance and often contain words such as "anticipate," "believe," "plan," "estimate," "expect," and "intend,", statements that an action or event "may," "might," "could," "should," "would" or "will" be taken or occur, or other similar expressions. Forward-looking statements are subject to a number of known and unknown risks and uncertainties, many of which involve factors or circumstances that are beyond the Company's control, and the Company's actual results could differ materially from those stated or implied in forward-looking statements due to many various factors. Such uncertainties and risks include, among others, delays in obtaining or inability to obtain any required regulatory approvals, if applicable. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee that the events and circumstances reflected in the forward-looking statements will be achieved or occur. The timing of events and circumstances and actual results could differ materially from those projected in the forward-looking statements. Accordingly, one should not place undue reliance on forward- looking statements. All forward-looking statements contained in this press release are made as of today's date, and the Company undertakes no obligation to update or publicly revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by law.
SOURCE: PPX Mining Corp.
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