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TORONTO (miningweekly.com) – Mine operators are in the current subdued economic reality increasingly looking at renewable electricity sources as a way to reduce current and future costs at operations; however, lower commodity prices hinder the widespread adoption of renewables, as falling profits and lower fuel prices maintain certain barriers.
This had resulted in miners shifting their primary motivation for implementing renewable projects to being a financial solution to drive down costs and improve productivity. Previous “softer” motivations involved the improvement of a project’s environmental footprint or satisfying social responsibility commitments, AngloGold Ashanti global VP of energy management and electrical asset integrity Bill Allemon told an audience during the third annual Energy and Mines summit, in which Mining Weekly Online participated.
Speaking during a panel discussion examining energy priorities, timelines and new technologies, he noted that while the company’s activities were mainly focused on the African tropical belt, where hydropower generation was impacted by ten-year drought cycles, the company had highlighted that each cycle was getting worse and more punctuated.