GrupoMexico, Mexico’s largest mining group, has signed a $300m agreement with the German conglomerate Siemens for the construction of an on-site gfas fired power plant that it hopes will save 40 per cent of its energy costs, local reports said.
 
The plant, which will have a capacity of 250 MW, will meet the energy requirements of its cooper processing facility in La Caridad, Sonosa, said Xavier Garcia de Quevedo, president of Mexico Mining, a subsidiary of GrupoMexico.
 
According to de Quevedo, GrupoMexico chose to invest in a new on-site plant because it anticipates the price of natural gas will remain competitive in the long-term,
 
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