St Barbara’s (ASX:SBM) subsidiary Atlantic Mining and renewable energy company Natural Forces are collaborating to explore the potential for a renewable energy hub at the now-closed Touquoy Gold Mine in Nova Scotia, Canada.
The companies will begin a Feasibility Study this month to investigate the installation of a closed-loop pumped hydro energy storage system, combined with solar photovoltaic panels.
The proposed energy storage hub would release water from the upper reservoir at Touquoy to the lower reservoir, spinning a generator unit in the process, adding to the power grid.
To recharge the system, power is re-absorbed from the grid, a turbine is used to pump water uphill from the lower reservoir, and the upper reservoir is refilled.
If viable, St Barbara, which has a market capitalisation of $200.4 million, says the concept will contribute renewables-based electricity supply to the region.
The concept is considered sustainable and reliable, and would operate in parallel with a high-capacity photovoltaic solar system on existing disturbed areas at the site.
St Barbara CEO Andrew Strelein says the initiative with Natural Forces is a reflection of the efforts to deploy innovative solutions in all aspects of the company’s projects, including closures.
“We are committed to sustainable development and since closing Touquoy have been looking at potential alternative land uses as we move into the mine reclamation phase,” he says.
A conceptual design is expected to be delivered by the end of 2024.
Natural Forces delivers renewable energy projects across Canada, Ireland, and France through community partnerships.
St Barbara is an Australian-based gold mining company focused on its operations in Canada and Papua New Guinea. The Touquoy Mine lies near Moose River in Nova Scotia, which is progressing towards a substantially renewables-based electricity supply.
Write to Aaliyah Rogan at Mining.com.au
Images: St Barbara
