Atlas Consolidated Mining & Development Corp. told the stock exchange Friday that state-owned National Power Corp. (Napocor) will supply electricity to its subsidiary's copper mine in Toledo City, Cebu over the next three years.

Atlas said Napocor would supply Carmen Copper Corp. 40 megawatts in excess power generated from the PNOC-Energy Development Corp.'s geothermal power plant in Leyte.

This would be done after the National Transmission Corp. (TransCo) raises the capacity of its Leyte-Cebu submarine cables, which are limited to 360 megawatts. The supply of power to Carmen Copper will begin after TransCo completes its standard safety tests, said Atlas.

Carmen Copper has already completed rehabilitating 60-percent of its Toledo mine. The mine is estimated to produce 47,000 tons of copper, along with gold, silver, iron ore magnetite and pyrite byproducts, per year.

Carmen Copper eyes to make its first shipment of copper concentrates by the third quarter of 2008.

"The deal marks an important milestone in our company's history and fast-tracks the resumption of copper concentrate production at our Toledo mine, soon to once again become the nation's largest copper mine," said Carmen Copper chairman and president Alfredo Ramos.