Power station for Tanami mine completed – Newmont
The $245-million power station project for Newmont Mining’s Tanami gold mine, in Australia, has been completed, the US-based gold and copper major reported on Friday.
The project entailed the installation of two power stations, a 66 kV interconnected power line, and a 450 km natural gas pipeline. The pipeline was built and will be maintained by Australian Gas Infrastructure Group, while the power stations were constructed and will be operated by Zenith Energy.
The successfully completed project will not only provide the Tanami mine with a reliable energy source, but will also lower power costs and carbon emission by 20%.
Newmont expects to realise net cash savings of $34/oz from 2019 to 2023, delivering an internal rate of return of more than 50%.
Completion of the project coincides with Tanami pouring its 10-millionth ounce of gold on the back of record production of 500 000 oz last year.
Tanami is Australia’s second-largest underground gold mine and one of the most cost competitive gold producers in the world.
Newmont’s exploration success at Tanami has created the potential to extend mine life beyond 2028, with additional upside through a possible second expansion project that the company expects to make a full funding decision on in the second half of 2019.
Last year, more than 800 000 oz of gold resources were converted into reserves from Tanami’s Auron ore body.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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