Caracal Gold completes switch to national power grid

0
25

Caracal Gold PLC (LSE:GCAT) said it has completed the connection to Kenya’s national power grid at its producing Kilimapesa gold mining and processing operations in Kenya.


The gold producer said this switch over from diesel power generation on 29 October is part of its efforts to build sustainable mining and gold processing operations and optimise and increase profitability.


It is now making preparations to install grid power to the underground mine, which is expected to provide further cost savings and associated environmental benefits from Kenya’s high proportion of energy from renewable sources.


Costs savings at Kilimapesa are estimated to be roughly US$100 per oz at current gold production levels.


Chief executive Robbie McCrae, said: “We’re pleased with the efficient and rapid time frame that the mains power supply was completed and would like to thank all involved in the installation work.


“Importantly, as well as providing major cost savings to our gold mining operations, the switch to the national grid delivers significant associated environmental benefits given Kenya’s use of renewable energy, most of which comes from geothermal, hydro, and wind.”


The switch over to national grid power was finished ahead of schedule following the commencement of work in September 2021.


Availability of grid power was said to have been “very good” since the switch over and is expected to continue to be so given the well-established power generation infrastructure in Kenya.


LEAVE A REPLY

Please enter your comment!
Please enter your name here