- Gold Fields says it will build a new hybrid renewable energy plant for its St Ives mine in Australia
- The project will comprise 42 W wind and 35 MW solar PV panels along with a substation and a transmission line
- It will bring down the mine’s electricity costs to 1/3rd of its previously projected costs by 2025
- The group plans to expand its renewable energy share by adding more capacity to its mines
One of the world’s leading gold miners Gold Fields will invest AUD 296 million ($195 million) in a new hybrid solar and wind power plant as its largest such project to date, to power the St Ives mine in Western Australia. Instead of hiring independent power producers (IPP) for the project, the miner will build the facility by itself.
Gold Fields plans to deploy 7 wind turbines with a combined 42 MW capacity and 60,000 solar panels with 35 MW installed capacity for the project. Investment will also be made into building a 33 kV renewable energy hub substation and a 132 kV transmission line.
Located 20 km south-east of Kambalda, the St Ives mine produces more than 350,000 ounces of gold/annum. The hybrid facility will cover 73% of the mine’s electricity requirements.
The company estimates the project to help the St Ives renewables project to reduce its electricity costs to 1/3rd of the previously projected costs by 2025. It will also reduce its Scope 1 and 2 emissions by approximately 50% by 2030.
Gold Fields says the project will boost its electricity mix to approximately 24% as it targets to reduce Scope 1 and 2 emissions by a net 30% against the 2016 baseline by 2030.
“The St Ives renewables project is a clear and tangible signal to our stakeholders of our decarbonisation commitments,” said Gold Fields CEO Mike Fraser. “Investing in renewables has obvious environmental benefits, but it also provides the business with cheaper electricity and offers an enhanced level of energy supply security.”
Gold Fields has gained clearance from the Traditional Owners of the land, the Environmental Protection Agency and the Western Australian Department of Energy, Mines Industry Regulation and Safety. Construction on the site is scheduled to start in May 2024 and become operational by 2025-end.
The mining group is evaluating the possibility of adding further renewable electricity sources based on technical and economic feasibility.
The South Africa-headquartered group already has plans to expand 8 MW solar at the Granny Smith Mine in Australia by an additional 11 MW. The Salares Norte Mine in Chile will add a 7.7 MW solar plant to the diesel generator that currently powers gold production here.
Its South Deep Mine in South Africa is powered by a 50 MW solar power plant since August 2022 and is planned to be expanded to 60 MW.
