Gold and Silver

Agnico Eagle studying wind power solution for Hope Bay

Agnico Eagle studying wind power solution for Hope Bay
Mining News Pro - Precious metals miner Agnico Eagle has signed a memorandum of understanding with a consortium to develop a renewable energy plan for its newly acquired Hope Bay mine, in the Kitikmeot region of Nunavut.

A consortium of Tugliq Energy and Hiqiniq Energy – a subsidiary of Inuity-owned economic development firm Kitikmeot Corp – will work towards the development of a wind-based power project.

The region where Hope Bay is located is said to have “tremendous” wind potential, which could be harnessed to reduce diesel consumption at the mine site, while stimulating skills knowledge building and economic development for the Inuit communities in the region.

Tugliq previously reported that the wind resource at the Hope Bay mine would be sufficient to generate electricity at a competitive cost. A previous study for TMAC Resources recommended a hybrid project with an installed wind capacity ranging from 2 MW to 4.7 MW.

Agnico Eagle bought TMAC for C$226-million in cash in February. The Hope Bay mine produced 25 308 oz of gold in the second quarter.

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