St Barbara (ASX:SBM) says a Feasibility Study into pumped hydro at the now-closed Touquoy Gold Mine in Nova Scotia, Canada, is ahead of schedule.
Renewable energy company Natural Forces, which is conducting the study, has confirmed that the pumped hydro energy storage facility is technically feasible, and costings for commercial viability are in progress.
St Barbara announced a collaboration with Natural Forces to explore the potential for a renewable energy hub at Touquoy in June.
The companies began the Feasibility Study, which is expected to be completed late next month or early December 2024, to investigate the installation of a closed-loop pumped hydro energy storage system, combined with solar photovoltaic panels.
The proposed energy storage hub aims to release water from the upper reservoir at Touquoy to the lower reservoir, spinning a generator unit in the process, adding to the power grid.
Natural Forces has indicated that the closed-loop pumped hydro capacity has been upgraded to 80 megawatts for seven hours from the originally discussed 60 megawatt for eight hours.
If brought into production, St Barbara says it would be the “largest energy storage facility” in Nova Scotia, and the only energy storage facility not on Cape Breton Island.
A facility in this specific location would allow the city of Halifax to have redundancy in the event of an issue at the transfer switch at Canso Causway, which is the only route for stored energy power onto the Nova Scotia electricity grid.
CEO Andrew Strelein says the project will benefit local residents and authorities.
“The continued benefit to Nova Scotia through adding substantial energy back-up to the grid post mining will be a way to continue to support the rural Nova Scotia Government on its path to a renewable energy future.”
Once the study is completed, St Barbara’s subsidiary Atlantic Mining and Natural Forces plans to present results to potential investors interested in developing Touquoy.
St Barbara, which has a market capitalisation of $372.34 million, notes that the overall cost of the project is anticipated to be less than similar installations, due to the availability of construction materials at the Touquoy mine site.
Meanwhile, Natural Forces Solar is continuing to investigate the viability of solar power generation infrastructure at Touquoy on the waste rock storage area, the tailings facility, and other possible areas.
An ongoing review of available areas to conduct a 10 megawatt trial system is also underway.
Both Atlantic Mining and Natural Forces are investigating the potential to similarly develop 15-Mile and Cochrane Hill as sustainable energy hubs, post mining closure.
St Barbara says this investigation will include a review of the development, operational, and closure plans for both sites to determine potential for application of the closed-loop pumped hydro energy system, alongside potential renewables generation in mine infrastructure areas post mining closure.
St Barbara is an Australian gold mining company focused on its assets in Canada and Papua New Guinea. The Touquoy Gold Mine lies near Moose River, which is currently progressing towards becoming a substantial renewables-based electricity supply.
Write to Aaliyah Rogan at Mining.com.au
Images: St Barbara
