https://www.miningweekly.com
Building|Business|Energy|Generators|Gold|Mining|Power|Projects|Renewable Energy|Renewable-Energy|Services|Solar|Sustainable|Solutions|Operations
Building|Business|Energy|Generators|Gold|Mining|Power|Projects|Renewable Energy|Renewable-Energy|Services|Solar|Sustainable|Solutions|Operations
building|business|energy|generators|gold|mining|power|projects|renewable-energy|renewable-energy-company|services|solar|sustainable|solutions|operations

Caledonia sells Zimbabwe solar plant

1st October 2024

By: Creamer Media Reporter

     

Font size: - +

Gold miner Caledonia Mining Corporation has entered into a conditional agreement to sell the entire issued share capital of its Zimbabwe subsidiary Caledonia Mining Services (CMS), which owns and operates the 12.2 MW solar plant that supplies power to its Blanket mine, to CrossBoundary Energy (CBE) for $22.35-million in cash.

The electricity generated by the solar plant will continue to be sold to the Blanket mine under an exclusive power purchase agreement.

Caledonia invested $14.3-million on building the solar plant, which provides about a fifth of the Blanket mine's daily electricity requirement.

Since commissioning in February 2023, the solar plant has generated over 47 350 MWh of power. The power generated from the solar plant has significantly reduced the use of diesel generators and grid power at the mine.

“We are pleased to have signed this agreement to sell the solar plant which, upon completion, will enable us to redeploy capital to our core business of mining. While the sale will generate an immediate profit for the company, more importantly, we have identified an experienced partner in CBE which brings vast expertise in delivering and running renewable-energy projects.

“We look forward to developing a strong relationship with CBE – we are already working with them to deliver a meaningful extension to the plant, and we will be considering renewable-energy solutions at our other development projects in due course,” comments Caledonia CEO Mark Learmonth.

“CrossBoundary Energy’s mission is to provide affordable, clean power solutions to underserved markets, and we achieve this by deploying capital into energy projects that enable businesses to focus on their core operations. Our partnership with Caledonia demonstrates the efficacy of this model for the mining sector, benefiting the mine’s operations and ultimately enabling sustainable mining. We look forward to pursuing these acquisitions with miners across the continent,” adds CBE managing partner Matthew Tilleard.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

GreaseMax
GreaseMax

GreaseMax is a chemically operated automatic lubricator.

VISIT SHOWROOM 
John Deere (Pty) Ltd
John Deere (Pty) Ltd

In 1958 John Deere Construction made its first introduction to the industry with their model 64 bulldozer.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (29/11/2024)
29th November 2024 By: Martin Creamer
Magazine video image
Magazine round up | 29 November 2024
29th November 2024

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.201 0.234s - 169pq - 2rq
Subscribe Now