Vedanta to exclude base metals business from sweeping demerger
The group said it will consider the base metals business demerger at a later stage.
On July 6, 2018, Zaldívar signed a new power plant supply agreement with Colbún, a Chilean electric power utility company. The copper mine will be the first to operate with 100% renewable energy: a combination of hydro, solar, and wind power.
The Copper Mine, located in Northern Chile, is a 50% joint venture between Barrick Gold and Antofagasta since December 2015. Antofagasta’s official website reports Zaldívar production at 51,700 tonnes in 2017 and forecasts 55,000 to 60,000 tonnes in 2018.
The use of 100% renewable energy will begin in July 2020 for a duration of 10 years. Antofagasta estimates to remove approximately 350,000 tonnes of greenhouse gases per year.
Comments
Matt Robinson
Considering that Colbún also has gas and coal plants, it begs the question:
Is Zaldívar making their 100% renewables claim based purely on the fact they’ve signed with Colbún, or is it based on a specific 100% renewables-only contract with Colbún?
And secondly, if we’re talking about a specific 100% renewables-only contract, does that contract allow for the use of gas or coal backup in the event of a renewables shortfall?
If so, they’re not at 100% renewables, are they?
The devil is always in the detail.