- Robex Resources (RBX) has signed a multi-year agreement to source solar energy for its Nampala mine in Mali
- Robex struck the deal with downstream energy provider Vivo Energy, which will now supply the mine with solar energy to the site’s ongoing gold mining operations
- The contract extends for at least five years but could extend for up to 15 years
- The deal is expected to reduce the ongoing costs consumed by the mine by around four cents per kilowatt hour
- Robex Resources (RBX) remains unchanged and is trading at C$0.48 per share
Robex Resources (RBX) has signed a multi-year agreement to source solar energy for its Nampala mine in Mali.
Robex struck the deal with downstream energy provider Vivo Energy, which will now supply the mine with solar energy to the site’s ongoing gold mining operations. The deal is locked in for at least five years but could extend for up to 15 years.
The joint project with Vivo includes a 3.9-megawatt photovoltaic power plant and a battery, which will be fully integrated into the mine’s existing thermal power plant.
The deal is expected to reduce the ongoing costs consumed by the mine by around four cents per kilowatt hour. However, the company did not estimate the long-term savings the new energy source will bring to the site’s logistics.
Benjamin Cohen, CEO of Robex, said the company was proud to introduce solar energy into its mining business.
“This energy will enable us to reduce our carbon impact by approximately 60,000 tonnes over ten years, provide us with a complementary source of energy to stabilize our electricity production and reduce our production costs, which are among the lowest in the world,” he said.
Robex President Georges Cohen also commented on the agreement, saying it reflects the company’s desire to participate in the fight against global warming and to reduce its environmental footprint.
The improved operating costs will add to an already strong operating environment for gold miners in general, as precious metal prices continue to hold amid pandemic-induced market volatility.
Robex Resources (RBX) remains unchanged and is trading at C$0.48 per share at 1:53pm EDT.