Business
LOI re sustainable energy supply for Hope & Gorob
LOI re sustainable energy supply for Hope & Gorob.
About this update from Bezant Resources Plc
[{"type":"text","content":"\n\n\n24 July 2024\nBezant Resources PLC\n(\"Bezant Resources\", \"BZT\" or \"the Company\")\nPartnership for the delivery of a sustainable renewable solar energy supply\nfor the Hope & Gorob Copper - Gold Project, Namibia\n \n \nBezant Resources (\"Bezant\" or the \"Company\") is pleased to announce it has signed a non-binding letter of intent (\"LOI\") to enter into a partnership between the Company and both CrossBoundary Energy Management (\"CrossBoundary Energy\") and Eversolar Pty Ltd (\"Eversolar\") for the provision of a renewable and/or hybrid solar energy supply for the Hope & Gorob Copper - Gold Project in which Bezant holds a 70% interest. (the \"Project\"). Subject to executing a legally binding offtake agreement, the installation will provide a sustainable renewable power supply for both the crushing and ore sorting plants at the Hope & Gorob site as well as a renewable installation at the flotation plant located close to Swakopmund that will be reconfigured to produce a final copper-gold concentrate from the ore sorted pre-concentrate.\n \nBezant has been seeking an energy solution for the Project that will save on energy cost, reduce CO2 emissions, and reinforce the Company's sustainability initiative consistent with best ESG practices. The Project has already committed to the use of dry ore sorting to reduce water dependency together with the repurposing of an existing off-site flotation plant that greatly reduces the Hope & Gorob physical footprint.\n \nHighlights\n \n· The LOI is for delivery of a sustainable renewable solar energy solution to both the Hope & Gorob and flotation plant sites and is subject to joint execution of a legally binding renewable and/or hybrid energy power offtake agreement by or before 1 December 2024\n· No advance payments required from Bezant\n· Indicative proposal, which is based on initial 15 year contract term, presents highly competitive cost of energy\n· It will provide large savings both financially and in greenhouse gas emissions compared to a thermal only solution\n \nCommenting on the initiative, Chairman Colin Bird said \"We are delighted to be working with two leaders in the renewable energy sector and the ability of C...