Fortescue Invests US$450 Million in Pilbara Generation Project

Fortescue Metals will invest US$450 million into the Pilbara Generation project, the next stage of its Pilbara energy connect program.

Fortescue Metals (ASX:FMG,OTCQX:FSUGY) has announced that it will invest US$450 million into the Pilbara Generation project, the next stage of its Pilbara energy connect program.

As quoted in the press release:

The Pilbara Transmission project consists of 275 kilometers of high voltage transmission lines connecting Fortescue’s mine sites, while the Pilbara Generation project will include 150 megawatts (MW) of gas fired generation, together with 150MW of solar photovoltaic (PV) generation. This will be supplemented by large scale battery storage and will be constructed, owned and operated by Fortescue.

Together, the transmission and generation projects, totalling US$700 million, form the Pilbara energy connect program of works providing Fortescue with a hybrid solar gas energy solution that will enable low cost power to be delivered to Iron Bridge. This allows Fortescue to leverage its
existing energy infrastructure including the Fortescue River Gas Pipeline and generation capacity at the Solomon Power Station and support the incorporation of large scale renewable energy.

The Pilbara Energy Connect project builds on the Chichester solar gas hybrid project which was announced last year. This landmark agreement with Alinta Energy will see up to 100 percent of daytime stationary energy requirements of the Chichester Hub iron ore operations powered by
renewable energy. Alinta will build, own and operate the 60MW solar PV generation facility at the Chichester Hub and 60-kilometre transmission line linking the Christmas Creek and Cloudbreak mining operations with Alinta Energy’s Newman gas-fired power station. On completion this will
integrate with the Pilbara energy connect program, via the Pilbara Transmission project.

Elizabeth Gaines, CEO, commented:

Mining is a 24/7 operation and efficient, reliable, competitive energy generation remains an important consideration for the mining sector in Western Australia. The lack of an integrated transmission network in the Pilbara has been a key barrier to entry for large scale renewables and Fortescue’s investment will address this issue.

Fortescue’s commitment of US$700 million in electricity generation and transmission infrastructure will complete the integration of Fortescue’s stationary energy requirements in the Pilbara into an efficient network, while lowering the overall cost of electricity to existing and future sites.

By installing 150MW of solar PV as part of the Pilbara generation project, the modelling indicates we will avoid up to 285,000 tonnes of CO2e per year in emissions, as compared to generating electricity solely from gas. Importantly, Pilbara energy connect allows for large scale renewable
generation such as solar or wind to be connected at any point on the integrated network, positioning Fortescue to readily increase our use of renewable energy in the future.

Click here to read the whole Fortescue Metals (ASX:FMG,OTCQX:FSUGY) press release.

Resolution Minerals Ltd Drilling Program at Sunrise Gold Prospect Completed

Adelaide, Australia (ABN Newswire) – Resolution Minerals Ltd (ASX:RML) (FRA:NC3) is pleased to announce that it has completed the Company’s first drilling program on the Sunrise Gold Prospect at the 64North Project in Alaska. Drilling was conducted along an existing access road, targeting outcropping granite hosted mineralisation, analogous in style to Kinross’s Fort Knox Gold Mine, which is one of Alaska’s most profitable mines. The Sunrise Prospect was identified in 2020 by a RML trenching program and is located less than 5km from Northern Star’s operating Pogo Gold Mine.

Summary

– A 1400m long “fence line” of 27 shallow RAB drill holes designed to test outcropping mineralisation at the Sunrise Prospect has been completed.

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Argyle Diamond Mine Closure: The End of a Sparkling Era

Pink and red diamonds are among the most special gems in the world. The value of these highly sought-after natural stones speaks for itself, but their rarity has arguably increased since the closure of Rio Tinto’s (ASX:RIO,LSE:RIO,NYSE:RIO) Argyle mine.

The asset, which ceased mining activity on November 3, 2020, had been in operation since 1983. In that time, 865 million carats of rough diamonds were produced.

The unique geological chemistry of the Western Australia location birthed the rarest hues, including champagne, cognac, blue, violet and of course, the coveted Argyle pink and red diamonds. Millions of carats of white diamonds were produced at the prolific property as well.

Keep reading... Show less

Argyle Diamond Mine Closure: The End of a Sparkling Era

Pink and red diamonds are among the most special gems on earth. The value of these highly sought-after natural stones speaks for itself, but their rarity has arguably increased since the closure of Rio Tinto’s (ASX:RIO,LSE:RIO,NYSE:RIO) Argyle mine.

The asset, which ceased mining activity on November 3, 2020, had been in operation since 1983. In that time, 865 million carats of rough diamonds were produced.

The unique geological chemistry of the Western Australia location birthed the rarest hues, including champagne, cognac, blue, violet and of course, the coveted Argyle pink and red diamonds. Millions of carats of white diamonds were produced at the prolific property as well.

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Graphite Metallurgical Test Work Update

Highlights:

  • Bulk sample of Springdale graphite concentrate estimated to be completed in Q2 2021.
  • Concentrate material will then be sent to Germany to test its amenability for the production of battery anode material suitable for use in EVs.
  • Final test results expected in Q3 2021.

Comet Resources Ltd (ASX:CRL) is pleased provide an update on ongoing test work on natural flake graphite from its Springdale Graphite Project (Springdale) located in Western Australia. Both excellent grade and recoveries were achieved on initial tests, leading to commencement of work to produce a bulk sample for further testing. Importantly, the graphite concentrates previously produced demonstrated a unique and potentially very valuable characteristic in its small size distribution, with two-thirds of the product passing the 38 µm size fraction screen. Generally, this small size fraction of graphite is a by-product of processing of larger flake fractions, which produces smaller size graphite, but in doing so also damages the smaller flake material in the process, reducing their performance and value. Deposits that contain high quality ultra-fine graphite are uncommon and are potentially suitable for supplying the expanding battery anode market, which continues to grow as the sales of electric vehicles (EVs) increase. Graphite suitable for battery anode production also achieves premium pricing in graphite markets, making it a highly sought-after product.

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Medallion Completes Diagnostic Testing with Australian Nuclear Science and Technology Organization

Medallion Resources Ltd. (TSX-V: MDL; OTCQB: MLLOF; Frankfurt: MRDN) “Medallion” or the “Company”) announces completion of a suite of diagnostic test work at the Australian Nuclear Science and Technology Organization (ANSTO) in Sydney, to extract rare earth elements (REE) from mineral sand monazite. The monazite was sourced from an Australian mineral sand mine. Discussion is ongoing with additional prospective suppliers.

Mineral sand monazite is an abundant REE-rich feedstock, that can be accessed as a by-product from global mineral-sand mines that target zirconium and titanium, without the need for additional mining. Medallion’s business model is centered on the Medallion Monazite Process , a transferable and scalable technology designed to accept multiple mineral-sand monazite feedstocks and extract high-value REEs with high efficiency, high recovery and zero liquid waste.

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