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Still it seems things are underway now with the solar plant and it won't be too long before it will be helping to reduce AISC at Sukari.
Cowichan a little harsh OK announced four years ago but there has been a pandemic and refresh of the board and it was made clear 12 months ago that there would be a delay as didn't want to import people and possible virus. so less that 3 years to undertake detailed feasibility, select right type of solar/battery system to provide satisfactory ROI ($37 million) and interact with their switchgear, then a detailed tender process, sounds a long process but a little credit please as they are actually trail blazers as the largest investment made on a mine for a solar project in fact believe largest green energy renewables project on a mine anywhere in the world.
At the same time they have a mine to run, tender for other concessions and hopefully bring in an exploration project or two to the construction phase.
Great week. As usual, I have sold 2/3 purely to lock in some profit and also diversify. Hoping for great news next week. However, any dips will be opportunity to buy in again. GLA
Some things don't change Mr T!
"The one great principle of English law is to make business for itself!"
"We lawyers are always curious, always inquisitive, always picking up odds and ends for our patchwork minds, since there is no knowing when and where they may fit into some corner."
"Keep out of Chancery. It's being ground to bits in a slow mill; it's being roasted at a slow fire; it's being stung to death by single bees; it's being drowned by drops; it's going mad by grains."
"Houses were knocked down; streets broken through and stopped; deep pits and trenches dug in the ground; enormous heaps of earth and clay thrown up; buildings that were undermined and shaking, propped by great beams of wood. In short, the yet unfinished and unopened Railroad was in progress."
"My meaning is, that no man can expect his children to respect what he degrades."
"Lawyers hold that there are two kinds of particularly bad witnesses--a reluctant witness, and a too-willing witness."
"Veels vithin veels, a prison in a prison."
Charles Dickens
International law firm Bird & Bird has advised FTSE-250-mining group Centamin plc, on the engineering, procurement and construction contracts for the 36MW solar farm and 7.5 MW battery-energy storage system at its Sukari Gold Mine in Egypt.
The Sukari solar plant will be the largest hybrid solar project at an off-grid mining operation globally and is expected to reduce diesel fuel consumption at Sukari by an estimated 22 million litres per annum and lower carbon emissions by an estimated 60,000 tonnes CO2-e per annum. The project is scheduled to be commissioned late in H1 2022.
The Bird & Bird team advised on all the project contracts and included Energy & Utilities partner Elizabeth Reid as well as legal director Geraldine Laing and associate Hannah Roberts. Bird & Bird were well placed to advise on the project, combining its recognised international mining practice with its market leading expertise in renewables.
Francois Du Plessis, Legal Counsel at Centamin says: “It was a real pleasure to work with the Bird & Bird team on this ground-breaking project. We really appreciated the depth of their renewables expertise, understanding of Centamin’s commitment to responsible mining and the team’s focus on getting the deal done.””
Elizabeth Reid, partner in the Energy & Utilities group at Bird & Bird adds: “We were delighted to support Centamin on this exciting project to design, construct and operate the 36MW solar farm and 7.5 MW battery-energy storage system at the Sukari Gold Mine. It is a fantastic example of how co-located renewables projects can help mining companies reduce fuel consumption, greenhouse gas emissions and operating costs. I look forward to working with the team at Centamin in the future.”
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My Thoughts: Just a reminder - the Sukari solar project was first announced FOUR years ago, I hope the new CEO can seriously improve turnaround times on projects going forward.