Ramp Metals stock surges on Sprott backing for Saskatchewan project
Ramp compares its project with the eye structure of the Nova-Bollinger nickel-copper mine in Western Australia.
Canada’s Prime Minister, Justin Trudeau, today announced support for a new geothermal power facility near Estevan in Southeastern Saskatchewan. The energy project, led by DEEP Earth Energy Production Corporation, is the first of its kind in Canada and taps into a new renewable energy resource.
Geothermal energy harnesses heat from the earth’s crust and transforms it into electricity to power homes and businesses year round. DEEP’s geothermal facility will build on Saskatchewan’s leadership in the energy sector, using familiar drilling technologies from the oil, gas, and mining industries to tap into this energy source.
The Government of Canada will provide $25.6 million in funding for the five Megawatt (MWe) facility, which will produce enough energy to power approximately 5,000 homes all while taking the equivalent of the yearly emissions of 7,400 cars out of the atmosphere.
The project will create 100 jobs during construction, provide the provincial power grid with clean, renewable energy, and create new business opportunities for local communities.
2 Comments
miner49er
This is great! I’m pro mining but this beats the heck out of uranium powered electrical plants. Uranium mining is expensive and the cost to clean up these old mine sites is staggering. Coal fired electrical plants is another mess, but there is the carbon capture system that I don’t know much about and haven’t heard much on it or how it works. This is great that Saskatchewan has the opportunity to ground floor this technology in Canada. This will create jobs and if it works out, more plants and more jobs I presume. Clean energy and jobs, how can we go wrong?
Lifetimetrucker
Squandering of the peoples money, $25 million Federal tax dollar donated to a Corporation to generate and sell electricity. Profiting off the same people who funded it for them. And only offers 100 short term jobs while under construction, less in operation. Hopefully Trudeau with his Government and their many money wasting endeavors since they came to power, will be gone next election.