While hybrid energy systems having been gaining ground in the mining industry, last year’s blackouts in South Australia may lead some firms to abandon fossil fuels entirely. Copper company Oz Minerals is one of them. The firm is considering developing independent sources of energy such as solar, wind, and thermal and bypassing the grid to ensure a reliable supply of energy to its copper mines, Managing Director Andrew Cole said on Tuesday.
Oz Minerals isn’t alone. Competitor Sandfire Resources built Australia’s largest off-grid solar and battery storage facility last year, while Sun Metals invested A$183 million ($143 million) to build a solar farm to run its zinc refinery.
Energy prices, the risk of blackouts, and expiring contracts are the primary drivers for miners to consider standalone renewable energy projects.
Read more at NASDAQ.com.