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Gold Fields ramps-up transition to renewables

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(Kitco News) - Gold Fields (JSE, NYSE: GFI) reported that the electricity generation licence has been approved today by the National Energy Regulator of South Africa (NERSA) for the construction of a 40MW solar power plant at its South Deep mine.

According to the company’s statement, the acting CEO of NERSA now has to authorise the license, a decision that should be forthcoming over the next two weeks. All the regulatory approvals to proceed with the project are then in place.

Gold Fields noted that the solar plant has the potential to provide around 20% of South Deep’s average electricity consumption.

During 2020, Gold Fields successfully implemented solar and wind power plants, backed by battery storage, at two of its Australian mines, Agnew and Granny Smith, and committed to renewables at its other Australian mines, Gruyere and St Ives, as well as the Salares Norte project in Chile when it starts operations in 2023. All its other mines are also reviewing renewable energy options.

During 2020, renewable electricity averaged 8% for the Australia region and 3% of
total group electricity. Once the South Deep project is commissioned, renewable’s contribution to the group total will rise to approximately 11%.

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