Newmont Mining has announced the completion of a power project to provide reliable energy source to Tanami gold mine in Australia.
The project includes two power stations, a 66kV interconnected power line and a 450km natural gas pipeline, to power the Tanami gold mine.
Newmont said that the pipeline was built and will be maintained by Australian Gas Infrastructure Group and the power stations were built and will be operated by Zenith Energy.
The power project is also expected to help in lowering power costs and carbon emissions by about 20%. It could offer $34 per ounce between 2019 and 2023, providing an internal rate of return (IRR) of greater than 50%.