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Ivanhoe Mines Secures Options to Power Its Tier-one Platreef Palladium, Rhodium, Nickel, Platinum, Copper and Gold Mine in South Africa with Solar and LNG-Generated Electricity
Ivanhoe announces strategic equity investment in Renergen, a South African emerging energy an...
About this update from Ivanhoe Mines Ltd. Class A
[{"type":"text","content":"Ivanhoe Mines Secures Options to Power Its Tier-one Platreef Palladium, Rhodium, Nickel, Platinum, Copper and Gold Mine in South Africa with Solar and LNG-Generated ElectricityIvanhoe announces strategic equity investment in Renergen, a South African emerging energy and helium producerIvanhoe acquires exclusive right to negotiate an offtake agreement for electricity generated from Renergen's gas and solar hybrid-power facilitySandton, South Africa--(Newsfile Corp. - March 14, 2022) - Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) Executive Co-Chair Robert Friedland announced today that the company has secured options to use electricity generated from renewable, green, solar power together with liquefied natural gas (LNG) to power its Tier-One Platreef palladium, rhodium, nickel, platinum, copper and gold project in South Africa. Construction of Ivanhoe's first solar power plant at the Platreef Mine is set to begin next month. The initial 5-megawatt (MW) plant is expected to begin supplying clean, solar-generated electricity to the mine in early 2023.\"We have committed to our stakeholders that we will explore every avenue available to minimize the environmental impact of producing metals that are critical to the electrification of the global economy,\" said Mr. Friedland. \"Powering our massive Platreef Mine with reliable electricity generated by 'green power' options, such as solar and natural gas, offers a 24-hour-a-day alternative to the coal-fired national electrical grid and dramatically reduces Platreef's carbon emissions. A power plant running on natural gas generates approximately 50% fewer carbon dioxide emissions than one burning coal.\"\"Having a reliable source of clean, renewable electricity from a solar-power plant at the Platreef Mine is an important step in our journey toward net-zero carbon emissions,\" Mr. Friedland added.In 2021, South Africa's government officially raised the licencing threshold for embedded generation projects from 1 MW to 100 MW, clearing the way for miners to start generating their own electricity. Design and engineering of the initial 5-MW solar plant at the Platreef Mine is complete and construction is set to commence next month, with commissioning expected in early 2023. The solar-generated power from this initial plant will be used for mine development and construction activities, as well as ...