03 Jun 2024

Queensland Gold Mine to Be Converted to USD-4.7bn Pumped Hydro Site

03 Jun 2024  by renewablesnow   

Mt Rawdon Pumped Hydro Project. Image by: Evolution Mining, ICA Partners.

Evolution Mining, the owner and operator of a gold mine in Queensland, Australia, and advisory firm ICA Partners propose to build a 20,000-MWh pumped hydro storage facility at the site of the open-pit mine nearing its end of lifecycle.

The partners have lodged the project’s Environmental Impact Statement (EIS) with state authorities, according to an announcement released on Wednesday.

The Mount Rawdon pumped hydro project is planned to be realised at an investment of some AUD 7 billion (USD 4.66bn/EUR 4.29bn). If greenlit, the scheme will create a complex that will provide firming capacity and supplying up to two million homes in Queensland.

Findings from the feasibility study have shown that the project is “economically and socially attractive and will be the lowest cost pumped hydro generation project per megawatt of capacity in Australia.”

“We are very proud that Mt Rawdon will be the first operating gold mine that, upon reaching the end of its mining life, will be repurposed as a significant renewable asset critical to Australia’s clean energy future,” said Jake Klein, executive chair of Evolution Mining.


More News