The Asia Miner

JUL-SEP 2018

The ASIA Miner - Reporting Important Issues to Mining Companies in the Asia Pacific Region

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the asia miner • volume 15 • issue 3 35 AROUND THE REGION Image Resources has announced that Sunrise Energy Group will build, own and operate a 3-4MW single axis tracking solar farm located next to Image Resources high- grade, zircon-rich Boonanarring mineral sands project located 80km north of Perth, which is currently under construcঞon and scheduled to be commissioned in the 4th Quarter 2018. The solar farm will be located approximately 20km north of Gingin, adjacent to the Boonanarring mine and processing facility and connected directly to Image's embedded electrical supply network in a "behind the meter" configuraঞon and is expected to provide approximately 25 per cent of the required electricity for the mine on an annual basis. "We are pleased to be one of the pioneering WA mining companies adopঞng distributed renewable electricity generaঞon" said Patrick Mutz, Managing Director of Image Resources. "Not only will the solar farm supply power in an environmentally sustainable manner, its construcঞon will result in a further AU$6-$7m of capital investment by Sunrise Energy Group into a long-life asset located in the shire of Gingin, creaঞng both construcঞon and operaঞonal employment. It could also provide a small savings in annual electricity costs to the Company." Sunrise Energy Group will now work, at its cost, to complete all of the remaining development acঞviঞes, including securing all required approvals, over the next 6-8 months, with construcঞon anঞcipated to commence in early 2019. The binding provisions of the HOA are customary for an agreement of this nature and include exclusivity, confidenঞality and the reimbursement of certain costs incurred by Sunrise Energy Group in the event Image decides not to proceed with the project during the project approvals phase. "We are excited to be working with Image Resources on this solar farm project" said Neil Can-by, Execuঞve Director, Sunrise Energy Group. "The adopঞon of large-scale distributed generaঞon by the commercial and industrial sector in WA has been very limited to date. The WA market is a very different market to the Naঞonal Electricity Market applicable to the Eastern States, having unique challenges and opportuniঞes. Image Resources has taken the ঞme to work through our commercial model and evaluate the opportunity as a potenঞal large load industrial customer, including the social, environmental and economic benefits of having distributed renewable energy generaঞon for their mining project." Mr Canby goes on to say, "This proposiঞon is not unique to Image Resources. This is a model that can be used for many large rural loads across WA that are connected to the grid. We look forward to making this project a huge success for Image Resources. Sunrise Energy Group is proud and commied to be leading the charge in this exciঞng new energy supply segment." According to vessel arrival data from Dubai-based coal trader American Fuels & Natural Resources, India's thermal coal imports rose by more than 15 per cent in the Quarter 1 of 2018, with Indonesia accounঞng for approximately three- fi[hs of total supplies. Reuters reported that India's rising coal imports were "contribuঞng to higher demand across Asia, which has pushed benchmark Australian coal cargo prices above $100 per tonne, a price not seen at this ঞme of year in more than half a decade". Data from the American fuels showed that imports rose to 39.6 million tonnes during the three months ended March 31, up from 34.4 million tonnes of thermal coal during the first three months of 2017. Indian Government data for the first three months of 2018 has not been released yet. Reuters speculates that India will likely increase 2018 thermal coal imports a[er two straight years of declines "because of domesঞc logisঞc bolenecks, regulatory changes and surging power demand". South Africa was the second-largest source of foreign coal during the first quarter, supplying about one-fourth of the total imports, with the United States and Australia being the next largest sources, the data showed. Adani Enterprises, India's largest coal trader, accounted for about one-sixth of all the imports, purchasing about 6.51 million tonnes during the period. 15 per cent rise in India's thermal coal imports Image Resources looks to solar at Boonanarring

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