Harmony Gold’s renewable energy rollout is reducing electricity costs, cutting carbon emissions, and potentially extending mine life. The company estimates savings of R425-million a year and a 60% reduction in carbon emissions through the first two renewable phases. The third phase involves studying technologies that could provide baseload power.
Harmony Gold has a net-zero carbon outcome targeted by 2045 and expected copper projects would further reduce its carbon footprint outlook.
Renewable energy projects
In the first phase, Harmony will acquire 30 MW of power through a power purchase agreement (PPA) near the Tshepong gold mine in the Welkom area.
The second phase involves the construction of a 137 MW plant, which will be built in two stages.
The first stage, which includes 100 MW, will be constructed using the green loan that the company secured some time ago. The second stage, which includes 37 MW, will also be implemented through a PPA program.
Phase three is still in the prefeasibility stage where the company is looking at technologies that can potentially give it some baseload.
How lower-priced self-generated electricity can play a role in extending mine life
Speaking on an interview with Mining Weekly, Harmony CEO Peter Steenkamp clarified: “The more you have renewables and cheaper electricity in place, the more you’re able to beat inflation and when you plug in the price and you plug in the cost, you get a mine life that could bring some resources to the reserves category.”
Source: Mining Weekly
Image Source: Harmony Gold