Oz Minerals plans running new Aussie mine on 80% renewables

Author: Gerry Machen. License: Creative Commons, Attribution-NoDerivs 2.0 Generic.

February 13 (Renewables Now) - Australian mining giant Oz Minerals Ltd (ASX:OZL) plans to use renewables to supply up to 80% of the power needed for a proposed copper-nickel mine in Western Australia’s West Musgrave province.

The mining project is a partnership with local group Cassini Resources Ltd (ASX:CZI), which has a 30% stake in the joint venture behind the scheme. Oz Minerals owns 70%. The partners released the results of a pre-feasibility study for the project in a bourse filing on Wednesday.

Oz Minerals’ idea is to cover between 70% and 80% of the mine’s power demand with renewables, with the production to be supported by battery storage and diesel or trucked gas-fired generation. The pre-feasibility study is based on an assumed plan that the power solution will be outsourced to a third party and the power will be purchased back over the mine’s lifespan. A base case option includes a 50-MW power purchase agreement (PPA) utilising hybrid solar-wind-battery-diesel supply. A gas pipeline remains a secondary option.

This study has confirmed that the project can be “a low carbon, low cost, long life mine producing copper and nickel, both in-demand minerals for the renewable and electrification industries,” explained Oz Minerals’ CEO Andrew Cole.

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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