Daniel Owiredu, Executive Vice President and Chief Operating Officer, Golden Star Resources has over 30 years’ experience in the mining sector and believes there is a role for renewables to play in addressing the current power crisis for mines in Ghana. This week, he provides insight on his operational energy challenges and the impact gold pricing has had on the business case for renewables.
Q: What would you describe as your top three energy concerns for your operations today?
A: Inadequate supply of power. Currently Ghana is experiencing power rationing due to the reduced level of the Akosombo hydroelectric power dam which contributes most of the power requirements of the country.
Also power fluctuation due to the above power supply not being stable so there are frequent power fluctuations with its consequent impact on electrical equipment.
And finally, power costs. The cost of power continues to increase due to the need for power. Quick fix solutions have generally resulted in high power cost. Standby mine site generation is also significantly costly due to high cost of fuel.
Q: Have commodity lows changed your energy strategy when it comes to investigating new power options?
A: Yes, with current low gold prices, and especially with the load shedding situation in Ghana, the need for alternate power sources, especially renewable ones, is more important.
Q: What would you say is the biggest misconception other industries, including renewables, have about the way mining leaders think about power?
A: There is a misconception that mining companies do not care much about power savings and are not aggressive enough to change from the status quo.
Q: What are you looking forward to at the 3rd annual Energy and Mines Toronto Summit on October 22-23?
A: Meeting alternate independent power producers that may want to invest in Ghana and hearing about sources of reliable power. Possibly stand-alone, cost-efficient, and environmental-friendly power generating systems.