A recent report by market intelligence company Fitch Solutions has highlighted the importance of renewable energy generation to mining companies operating in Sub-Saharan Africa.
The prevalence of off-grid remote mineral deposits, combined with an excellent solar resource, and energy security concerns caused by unreliable grid-power, has already led companies such as Newmont, IAMGOLD, and B2Gold to invest in solar generation solutions for their Sub-Saharan mining operations.
In addition to securing a reliable electricity supply, renewable energy generation allows off-grid mining operations to to reduce their dependency on diesel.
With Fitch’s own forecast predicting global diesel prices to average $96.2/bbl by 2022, up from $89.6/bbl this year, the addition of renewable energy generation solutions to mining operations offers mines the opportunity to make significant savings on fuel costs.
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