Connect with us

Hi, what are you looking for?

Deluxe Investment GroupDeluxe Investment Group

Editor's Pick

AngloGold Completes Tropicana Renewables Project

AngloGold Ashanti (NYSE:AU,JSE:ANG)said on Monday (March 31) that with the completion of its Tropicana renewables project it has created the largest hybrid power system in Australia’s mining sector.

First introduced by AngloGold in June 2023, the renewables project is a partnership with Pacific Energy (ASX:PEA), which will integrate 61 megawatts of wind and solar generation capacity at the Tropicana development.

Tropicana is located in Western Australia roughly 1,000 kilometres east of Perth and is a joint venture between AngloGold and fellow gold producer Regis Resources (ASX:RRL,OTC Pink:RGRNF).

The former holds a 70 percent interest in the project, while the latter owns the remaining 30 percent.

The renewables project is expected to reduce the Tropicana development’s natural gas consumption by approximately 50 percent and decrease carbon emissions by an average of 65,000 tonnes annually over the next decade. The project was completed on time, as construction began toward the end of 2023 and was expected to finish during Q1 2025.

“This project will enable a significant reduction in emissions while reducing both diesel and natural gas consumption and improving our overall security of energy supply,” said AngloGold CEO Alberto Calderon.

The project’s energy capacity is equivalent to powering between 40,000 and 50,000 average Australian homes annually. AngloGold believes Tropicana enhances its net asset value, underlining its status as a valuable investment.

In the long run, the renewables initiative will play a crucial role in AngloGold’s 2030 decarbonisation goal, which calls for a 30 percent reduction in Scope 1 and 2 greenhouse gas emissions based on its 2021 carbon emissions baseline.

Outlining the project’s environmental impact in a fact sheet, AngloGold compares it to planting 33 million trees annually, removing 23,000 cars from the road each year or eliminating 2.8 million long-haul flights per year.

Additionally, the plant is expected to reduce the Tropicana operation’s diesel consumption by 5.6 million litres annually and cut natural gas usage by 1.1 million gigajoules per year.

Pacific Energy was responsible for designing and constructing the expansion. The company also owns and operates the hybrid renewables-natural gas power station under a 10 year power purchase agreement.

Combined, the thermal and renewable power systems will provide a total capacity of 115 megawatts.

Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!



    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    You May Also Like

    Latest News

    Sister Stephanie Schmidt had a hunch about what her fellow nuns would discuss over dinner at their Erie, Pennsylvania, monastery on Wednesday night. The...

    Latest News

    In the final three weeks of the presidential race, former president Donald Trump and his advisers have attacked one particular foe more than three...

    Latest News

    “And there’s very few states that benefit like you do from fracking. I mean, you have 500,000 jobs.” — Former president Donald Trump, remarks...

    Latest News

    A former deputy Palm Beach County sheriff who fled to Moscow and became one of the Kremlin’s most prolific propagandists is working directly with...

    Disclaimer: Deluxeinvestmentgroup.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2025 deluxeinvestmentgroup.com