Power supply to benefit mines

Business

By SHIRLEY MAULUDU
INTERNATIONAL energy company Mayur Power Generation plans to supply renewable power to mining projects in the country.
In an interview with The National recently, managing director Paul Mulder said the company had a few projects in mind to begin negotiations with.
He said the company’s intention was to supply local business. “Our intention is to supply local business in Lae and Madang as there are many local businesses that aren’t using the grid, or are only using the grid one-third or two-thirds of the time,” Mulder said.
“So we want to support local businesses.
“In addition, we are looking to support the mining projects because they are looking for an alternative fuel source.
“The end product that they are selling must compete in the global market and the power cost is such a high potion of the overall cost used to produce copper and gold.
“So they need to find a very cheap but environmentally sustainable power solution.
“Overall, in mining costs, the energy cost for copper/gold project for mining projects, or even like the nickel project, for most intensive projects in Papua New Guinea, energy costs are 40 per cent of the overall operating costs.
“We believe we can have the energy cost in half.
“Which means, we believe we can save 20 per cent of their operating cost which can mean a difference between a project proceeding or not.”
Mayur is in the process of constructing a K400 power generation facility in Lae.
But Mulder said the company was waiting for the signing of a power purchasing agreement with PNG Power Limited to start work on the facility. It will be called the Environ Energy Park.

Leave a Reply