G6M 16.0% 2.9¢ group 6 metals limited

Here is some clarification recently published in the King Island...

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    Here is some clarification recently published in the King Island Courier.


    “Group 6 Metals has made this decision based on the following key points:

    • Connecting to the King Island electrical grid would result in the mine receiving a small percentage of the current renewable energy capacity available on King Island, with most of the power being generated by diesel generators at the Currie Power Station.

    • The transmission upgrade costs to provide the permanent demand to the mine site have significantly escalated making it an uneconomic solution for the mine.

    • Reliability and operational flexibility requirements of the process plant to maintain steady state production are better achieved with a dedicated, off-grid power station.

    “The company has commenced work on a longer-term permanent power solution for the site, whereby a significant proportion will be sourced from renewable generation resulting in lower emissions and power costs.”
 
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