Newcrest Mining intends to run the Cadia gold mine in New South Wales with energy sourced from the Rye Park wind farm north of Yass.
The gold miner has agreed to buy renewable energy from the Rye Park wind farm developer, Tilt Renewables, over a interval of 15 years.
Newcrest said that Rye Park would develop into the most important wind farm straight enabled by a company energy buy settlement in Australia.
Anticipated to maneuver from the event stage into financing and development, Rye Park is focused to start out operations in January 2024, the place Newcrest will contract for greater than half (55 per cent) of Rye Park’s deliberate 400 megawatt output.
That is equal to greater than 40 per cent of Cadia’s projected power demand from 2024 and a 20 per cent discount in Newcrest’s greenhouse fuel emissions.
Newcrest managing director Sandeep Biswas stated that the brand new contract would additionally assist the corporate keep aggressive power prices.
“This can be a important step in our transition to sustainable power use at our operations. As a part of our local weather change coverage launched final June, we now have dedicated to a big discount in emissions depth, and this settlement is a serious step in direction of delivering on that goal,” Biswas stated.
“We proceed to discover methods to cut back Cadia’s emissions depth and our long run goal is to just about eradicate Cadia’s energy-related greenhouse fuel emissions.”
Tilt Renewables chief govt Deion Campbell stated the long-term offtake settlement with Newcrest would underpin the funding resolution for its largest wind farm up to now.
Ought to the mission obtain board approval, development might begin inside the subsequent 6-9 months.
At Cadia, Newcrest is planning for an extra improve to its processing plant nameplate capability from 33 million tonnes to 35 million tonnes a yr, with the second stage of this improvement receiving board approval in October.
Biswas stated Newcrest would additionally proceed to pursue different initiatives to cut back its emissions depth at different working websites.
Newcrest goals to cut back its greenhouse fuel emissions by 30 per cent by 2030.