Ximen Mining (TSX-V: XIM) is installing an electricity storage system at its Kenville gold mine in Nelson, B.C. It will utilize solar energy.
The company announced the initiative on Tuesday. Ximen has selected Energy Plug Technologies Corp (CSE: PLUG) and Renewable Energy Power to assist with the installation.
Its first phase will involve connecting a series of solar panels to three 10-kilowatt lithium-iron phosphate batteries. The electricity stored in those batteries will be used to power three buildings at the mine.
The second phase will require the installation of a 1-megawatt battery storage system that will supply power needed for compressors, ventilation and lighting at the site. The companies will install a 20-kilowatt turbine at a river nearby to generate electricity as well.
One of the 40-foot containers being used for the energy storage system. Photo via Ximen Mining
“This forward-thinking project aligns with our zero-emission goals, ensuring operational efficiency and lower costs while setting a new standard for responsible resource extraction,” Christopher Anderson, CEO of Ximen, said.
Ximen did not specify how much the system costs but expects to see a return on its investment by 2027. The company says the energy storage system will be particularly useful during the coldest months of the year.
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BC accelerates mining investments
Ximen received the final permit needed to start mining activities at the Kenville operation in April last year. The company acquired the project in 2019.
The Kenville gold mine is one of British Columbia’s first underground mining sites with a history dating back to 1888. The 567-hectare project is comprised of 15 Crown-granted mineral claims and three other claims. It has produced over 65,000 ounces of gold.
Ximen announced in mid-December that it had arranged a C$500,000 private placement from an unnamed investor. The funds will be used for exploration expenses.
The gold miner’s share price has shot up by over 172 per cent in the past month. The stock is currently worth C$0.30 on the TSX Venture Exchange.
British Columbia has been investing heavily in mining in recent years. The province invested 12 per cent more in mineral exploration during 2022 than in 2021.
“With a record $740 million invested in 2022, we’re not just breaking ground; we’re breaking records,” Keerit Jutla, President of B.C.’s Association for Mineral Exploration, told the Northern Miner last month.
rowan@mugglehead.com
