Amerigo Reports 100% Renewable-Powered Operations

Rhea-AI Summary

Amerigo Resources Ltd. (ARREF) announced that its 100% owned operation, Minera Valle Central (MVC) in Chile, has received its first annual Renewable Energy Certificate (REC) from the International REC Standard. This certificate confirms that MVC's total electricity consumption of 308,653 MWh for the year 2020 was sourced entirely from renewable energy. The long-term power supply agreement MVC entered into will ensure all electricity used until 2037 comes from renewable sources, supporting Chile's renewable energy goals.

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• MVC received its first annual Renewable Energy Certificate, confirming 100% renewable energy usage for 2020.
• Long-term power supply agreement ensures MVC operates on renewable energy until 2037.

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• None.

VANCOUVER, British Columbia, July 07, 2021 (GLOBE NEWSWIRE) -- Amerigo Resources Ltd. (TSX: ARG; ARREF: OTC) (“Amerigo” or the “Company”) is pleased to announce that Minera Valle Central ("MVC"), the Company’s 100% owned operation located near Rancagua, Chile has received its first annual Renewable Energy Certificate (“REC”), issued by the International REC Standard.

The REC is an Energy Attribute Certificate (“EAC”) under which MVC can reliably claim that the 308,653 MWh it consumed during the period January 1, to December 31, 2020, representing 100% of MVC’s electricity consumption, came from renewable sources.

On January 1, 2020, MVC entered into a long-term power supply agreement that runs to December 31, 2037. Under this contract, all the electricity used at MVC is being supplied from renewable sources.

“We are extremely proud to add this renewable energy supply certification to our ESG credentials,” said Aurora Davidson, Amerigo’s President and CEO. She added, “Chile is currently generating 46.5% of its electricity from renewable sources and the country’s National Energy Policy 2050 has set ambitious goals of meeting 60% of power generation with renewables by 2035 and 70% by 2050. MVC is leading the way in Chile and within the mining industry worldwide through this certification as a 100% renewable-powered operation.”

About Amerigo

Amerigo Resources Ltd. is an innovative copper producer with a long-term relationship with Corporación Nacional del Cobre de Chile (“Codelco”), the world’s largest copper producer.

Amerigo produces copper concentrate and molybdenum concentrate as a by-product at the MVC operation in Chile by processing fresh and historic tailings from Codelco’s El Teniente mine, the world's largest underground copper mine. Tel: (604) 681-2802; Fax: (604) 682-2802; Web: www.amerigoresources.com; Listing: ARG: TSX.

For further information, please contact:        

Aurora Davidson	Graham Farrell
President and CEO	Investor Relations
(604) 697 6207	(416) 842-9003
ad@amerigoresources.com	Graham.Farrell@HarborAccessLLC.com

FAQ

What is the significance of the Renewable Energy Certificate received by Amerigo Resources (ARREF)?

The Renewable Energy Certificate indicates that Amerigo's Minera Valle Central operation consumed 100% renewable energy in 2020, enhancing its ESG credentials.

What are the renewable energy goals set by Chile's National Energy Policy 2050?

Chile aims to achieve 60% power generation from renewable sources by 2035 and 70% by 2050.

How much electricity did MVC consume to receive the REC?

MVC consumed 308,653 MWh of electricity in 2020, all sourced from renewable resources.