Fwd: IAMGOLD aims for 15% renewables in 3-5 years: CEO interview

Mining sector cost curve improves to include grid connected operations.

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From: "Rebecca Van Nichols" <rvan@tnag.net>
Date: Jul 31, 2014 6:15 PM
Subject: IAMGOLD aims for 15% renewables in 3-5 years: CEO interview
To: <mbannerman@arcstarenergy.com>
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http://www.renewableenergyworld.com/rea/companies/energy-and-mines/news/article/2014/07/iamgold-aims-for-15-renewables-in-3-5-years-ceo-interview

IAMGOLD aims for 15% renewables in 3-5 years: CEO interview

"In the next 3-to-5 year's I'd like to see 15% of our power generated by renewables".

Andrew Slavin, Energy and Mines 
July 30, 2014

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OTTAWA, ONTARIO In an exclusive interview for Energy and Mines, IAMGOLD CEO Stephen Letwin explains the drivers for his company's strong interest in renewables. He provides details of the company's new and upcoming renewables projects and outlines the challenges for renewable technology providers entering the mining space.

"We wouldn't be spending $12 million at Rosebel to build a solar plant if we didnt think it was going to help our cost structure and also help the environment."

To download the interview visit Energy and Mines 

Great and insightful quotes include:

"If we can reduce our power costs, we have a very positive impact on our all-in costs for producing an ounce of gold. In today's environment, that's a critical element of our go-forward strategy. "

"Developing larger solar farms makes sense where mines are already tied into the grid, as excess solar power can be fed into the grid during the day and drawn back again during the night. The renewables industry has to help mines understand the technology that's available and then create alternatives that can be positively compared to hydrocarbon use."

"Part of the problem in the past has been having renewables compete on the same basis as hydrocarbons. But with the improvements of late in solar panels, the improvements in links to the grid, and improvements in battery technology and the ability to potentially store solar energy, all of this contributes to a future where you will see self-generation become more and more prominent."

Download the interview here or contact andrew.slavin@energyandmines.com

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Sent from my BlackBerry 10 smartphone.