May 17, 2020

Australia's largest ever solar power system is up and running in DeGrussa gold-copper mine

DeGrussa
Sandfire Resources
DeGrussa Solar Project
gold-c
Dale Benton
2 min
Australia's largest ever solar power system is up and running within the DeGrussa gold-copper mine
The largest integrated off-the-grid solar power system in Australia is officially live, sitting within the DeGrussa copper-gold mine.

Sandfire Resource...

The largest integrated off-the-grid solar power system in Australia is officially live, sitting within the DeGrussa copper-gold mine.

Sandfire Resources, who own the underground mine in Western Australia, announced the completion of a $40million solar panel project, which saw 34,080 solar photovoltaic panels installed as part of a 10.6MW solar panel station.

Sandfire confirmed that the system was currently generating around 7 megawatts of power and is expected to reach its 10MW capacity this summer.

“This is the largest integrated off-grid solar and battery storage facility in Australia and draws together a number of technologies which are widely expected to have a transformational impact on the global economy over the next decade,” says Sandfire managing director Karl Simich.

“The DeGrussa Solar Project is expected to reduce our annual diesel consumption and cut our carbon emissions by more than 12,000 tonnes of CO2 annually – a reduction of more than 15 per cent based on our reported emissions for the 2016 financial year.” he says.

Construction on the project began in July 2015.

The DeGrussa Solar Power project is owned by French renewable energy firm Neoen, with juwi Renewable Energy in charge of project development; engineering, procurement and construction, as well as operations and maintenance.

The plant was constructed by national surveying and infrastructure construction company OTOC Limited, with project financing provided by the Clean Energy Finance Corporation and recoupable grant funding support of $20.9-million from the Australian Renewable Energy Agency.

The DeGrussa solar project incorporated NEXTracker solar trackers. NX Horizon™ self-powered tracker represents a technological innovation and a substantial cost savings for the Australian mining industry. The mine, which operates in an isolated area roughly 560 miles (900 km) north-east of Perth, was previously powered by a diesel generator facility. The introduction of NEXTracker’s solar solution has paved the way for one of the largest integrated solar installations in the country, providing peak power load to this essential local business.

The DeGrussa Mine project is a prime example of how an established, industrial powerhouse such as the mining industry can benefit from renewable energy.

The Solar Power project is expected to achieve savings in the consumption of diesel fuel and will, reduce DeGrussa’s CO2 emissions by an estimated 12,000 tonnes per year.

 

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May 17, 2021

Newmont acquires Canada’s GT Gold in $325mn deal

Newmont
GT Gold
Gold
Copper
2 min
Newmont has purchased the remaining 85.1% common shares of Canada’s GT Gold to complete its buy out Gold in a deal worth $325mn

Newmont, the world’s biggest gold miner, has acquired Canada’s GT Gold in a deal worth $325mn. The gold giant now controls the Tatogga gold-copper project in the Traditional Territory of the Tahltan Nation.

GT Gold

“With the acquisition of GT Gold and the Tatogga project in the highly sought-after Golden Triangle district of British Columbia, Canada, Newmont continues to strengthen our world-class portfolio,” commented Newmont President and CEO Tom Palmer.

“We look forward to continuing to build a respectful and meaningful relationship with the Tahltan Nation, including the community of Iskut. The relationships we have with Indigenous communities, First Nations and host communities are critical to the way we operate. We will partner with the Tahltan Nation at all levels, and with the Government of British Columbia to ensure a shared path forward as the Company understands and acknowledges that Tahltan consent is necessary for advancing the Tatogga project.”

Newmont

Newmont

Newmont’s acquisition includes the Tatogga project, comprised primarily of the Saddle North deposit, which has the potential to contribute future significant gold and copper annual production. There are also further exploration opportunities beyond the known deposits at Saddle North within the land package. The Tatogga project adds to Newmont’s existing interest in the prospective Golden Triangle through the company’s 50% ownership in the Galore Creek project.

Newmont is the world’s leading gold company and a producer of copper, silver, zinc and lead. A world-class portfolio of assets, prospects and talent is anchored in favourable mining jurisdictions in North America, South America, Australia and Africa. The American miner is celebrating its 100th anniversary this month.

Gold

With gold prices on the rise, the last six months has seen gold industry M&A activity accelerating. A recent Mckinsey report, advises that the industry need to be mindful of mistakes made during the previous gold price boom, when growth was chased unidirectionally by several companies.

 

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