Gold Fields is exploring the feasibility of installing more wind and solar power at its South Deep gold mine.
The company is planning to install 10,000 solar photovoltaic panels at the mine in 2023, along with 30-40 MW of wind energy to supplement the solar farm. This was revealed by Interim CEO Martin Preece at the company’s first-quarter operational update on May 4.
Gold Fields has already commissioned the 50 MW Khanyisa solar power plant at the mine, which is helping to keep mining operations going.
The company believes that investing in renewables makes financial sense, as the rising Eskom electricity tariffs have increased the savings made by renewable energy users.
According to Preece, Gold Fields had originally anticipated saving about R100 million per year on electricity due to the solar project. In August of last year, they projected a savings of R124 million. However, due to higher-than-expected Eskom prices, the company ended up saving between R160 million and R170 million on their electricity bill.
Gold Fields therefore plans to invest in more renewables in the future.
Source: INTERNATIONAL MINING
Image Source: Gold Fields South Deep