Canada-based resource developer IAMGOLD Corp., with the assistance of its subsidiary, Rosebel Gold Mines N.V. (RGM), is funding the development and operation of a 5 MW solar power project in Suriname.
IAMGOLD expects the solar project to be in the range of $12 million to $14 million, including the work necessary to prepare and provide accessÂ to the site. The company expects the facility to be operational in the third quarter of 2014. RGM will manage and run the facility, with all electric power being used by RGM's mining operations. The solar plant will interconnect to Suriname's electric power grid.
‘As Rosebel transitions from mining soft rock to harder rock deposits, we need an increased amount of power to crush and grind the ore to facilitate the gold extraction,’ says Steven Letwin, president and CEO of IAMGOLD. ‘We have successfully negotiated reductions in the cost of power at Rosebel, and this solar project further improves the cost and supply of power to meet our needs.’
IAMGOLD says it will work cooperatively with the government of Suriname on this project, and plans to share all technical information with relevant government authorities along with ADEK University of Suriname with the goal of further developing solar power in the South American country.