Alderon brings on board IPP for Kami power equipment
Project developer Alderon Iron Ore has signed a memorandum of understanding with Envest, whereby the independent power producer (IPP) will acquire and manage the equipment for the Kami mine, in western Labrador.
The transaction will provide up to $35-million for power infrastructure, which Alderon intends to procure from Schneider Electric.
Envest and Kami will also explore the potential for additional financial solutions from Envest for other equipment to be used at the advanced stage iron-ore project.
“We are thrilled to partner with Envest due to their industry expertise and comprehensive energy solutions for large industrial projects,” said Alderon president and CEO Tayfun Eldem.
Once developed, the Kami mine will operate for 23 years, producing an average of 7.84-million tonnes a year of premium-quality iron-ore concentrate with an iron content of 65.2%.
Alderon is still raising financing for the mine, which will require about $980-million in capital expenditure.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation