News

Deloitte: geothermal option for powering Colombia’s mining sector

Nevados del Ruiz Volcano, Colombia (source: flickr/ Aztlek, creative commons)
Francisco Rojas 3 Jul 2015

Using renewables such as geothermal can add stability, efficiency, profitability and lower costs for the mining sector in Colombia.

Local sources state that a 9.3% growth was recorded in Colombia during 2014 in the mining and quarries sector generating 124 million tons of coal and other 72 tons gold. However, mining has been affected by the instability of the energy supply for the sector and Deloitte states that the business model needs to urgently change and adapt more to new technologies in power generation in order to keep growing.

Analysts at Deloitte highlight the importance of implementing renewable energy sources in the mining sector, stressing that not only solar and wind power plants are viable but also geothermal energy.

For the firm, the higher expenses in quarry operations are directly tied up to the inefficient energy supply. With the installation of renewable energy sources, operating costs would decrease, and can help lower final prices up to 60%.

Source: Portal Minero