Copper 360 takes steps to secure wind energy for its Northern Cape projects
JSE-listed copper producer Copper 360 has concluded an agreement with Mulilo Renewable Project Developments to acquire 100% of Mulilo Springbok Wind Power (MSWP).
MSWP is the owner of a project to establish a 55 MW wind energy generation facility in the Springbok area, in the Northern Cape province. The project is at an advanced stage with regard to feasibility studies, technical documentation and engineering plans.
Copper 360 said on January 22 that an attractive feature of the project was its fully authorised environmental-impact assessments and other relevant clearances, permits and land leases that were already in place.
Studies indicate that the intended location of the generation facility is favourable in terms of wind profiles.
The purchase consideration comprises an initial cash payment of R5-million, with deferred cash payments of R1-million for each megawatt of installed capacity, payable as capacity is installed.
The company said there were no conditions precedent and that the acquisition was therefore expected to be completed during the first week of February.
Copper 360 said it had a strategic objective to achieve energy security as it grew its core copper-producing business through its cluster mining model, and to do so in an environmentally responsible manner using renewable energy.
The acquisition will provide the company with a platform to generate renewable power to meet the increasing energy needs of the copper-producing business in a cost- effective manner.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...
VISIT SHOWROOM
Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
