A good news story from Lihir Gold on the use of geothermal in mining. Its all about controlling costs for them - the carbon credits are just an added bonus.
Geothermal power big winner for Lihir
By BRIAN GOMEZ in Sydney
LIHIR Gold�s 56 megawatts of geothermal power, which provides about 75% of the company power needs, last year reduced production costs by the equivalent of US$60 (K174.42) per ounce of gold produced and generated US$5 million (K14.5 million) in carbon credits.
Managing director Arthur Hood disclosed this yesterday in Lihir�s 2007 annual report.
He said: �The completion of the flotation and geothermal construction projects during 2007 is a major achievement for LGL.
�Both initiatives will drive a significant turnaround in LGL�s production and cost profile over the coming years, underpinning the long term future of the Lihir project.�
flow test announcement out, page-31
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