25th Nov 2019 11:38
(Alliance News) - Resolute Mining Ltd is looking to cut costs at the Syama gold mine in Mali by building a new hybrid power plant, it said Monday.
Resolute said the new power plant will combine solar, battery, and thermal generation technologies, reducing power costs at the mine by around 40%.
Australia's Resolute, which is based in Perth, wants the first stage complete by the end of 2020, with stage two including a new 20 megawatt solar array built on a decommissioned tailings storage facility.
FTSE 250 power unit firm Aggreko PLC will be funding and operating the new plant.
Resolute Managing Director & Chief Executive John Welborn said: "Identifying and adopting world-class technologies to improve our operations is fundamental to achieving Resolute's ambitions. We are delighted to be partnering with Aggreko in delivering a lower cost and more environmentally friendly power solution for our Syama gold mine.
"The new Syama hybrid power solution will lower our power costs at Syama by approximately 40% while significantly reducing our carbon emissions. Having worked together for several years, we know Aggreko is the right partner to support us as we integrate renewable energy into our Syama operation."
Syama is currently powered by a 28 megawatt diesel power station, which was originally built by BHP Group PLC in the 1980s.
Alongside Syama, Resolute owns the Ravenswood mine in Australia, Bibiani in Ghana, and Mako in Senegal. In 2019, it hopes to produce 400,000 ounces of gold.
Resolute shares were 2.9% higher on Monday morning in London at a price of 60.00 pence each. Aggreko was 2.0% up at 816.20p.
By George Collard; [email protected]
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