First Tin PLC has provided an update on the power options for its Definitive Feasibility Study at the Taronga Tin Project in Australia. The company's preference is to use renewable power, and it has considered various options including grid connection, diesel and gas engine generators, solar panels, wind turbines, and combinations of these. The study has revealed that a combination of gas engines and solar panels is the most cost-effective and carbon-friendly option for Taronga's power solution.
To reduce carbon emissions, the company plans to operate the main crusher only during daylight hours, utilizing solar power for crushing and reducing the overall carbon footprint. The estimated power demand during daytime is 5.5MW and 2.8MW during the evening. The preliminary scoping study suggests that 5 x 2MW gas engines and solar panels generating a total of 10MW power during peak solar radiation will be required.
The estimated overall solar efficiency is expected to be between 16.7% and 20.1%, with solar power estimated to meet 53% of the total demand. The operating cost for solar is estimated to be A$0.01/kWh and for gas A$0.24/kWh, resulting in a total estimated operating cost of A$0.12/kWh, considerably lower than the estimate of A$0.29/kWh for grid power. This represents a significant cost saving and carbon abatement.
The capital cost estimates for the proposed power solution are around A$28.6M, compared with A$14.0M for a grid connection, with the additional capital cost expected to be recouped within 3.5 years of operation. These estimates are to Level 3 accuracy, and Level 5 feasibility study accuracy estimates are currently in progress.
First Tin CEO, Bill Scotting, emphasized the positive results, stating that they represent significant energy cost savings and support the company's commitment to minimizing environmental and CO2 footprints. The company aims to assist the global clean energy and technological revolution.
First Tin is an ethical, reliable, and sustainable tin production company focused on becoming a tin supplier in low political risk jurisdictions through the rapid development of high value, low capex tin assets in Germany and Australia.