News

Mining and geothermal sector could cooperate on development

Mining and geothermal sector could cooperate on development Process of mining lithium and other metals from geothermal brine (source: Simbol Materials)
Francisco Rojas 8 Apr 2015

Mining and geothermal industries could have a symbiotic relationship that could greatly benefit both and make them more efficient. More research and funding is needed to make it happen.

Geothermal projects have trouble deleveraging risk in the initial phases of development and subsequently in the financing section. According to Corporate Knights, mining companies also face other risks, in this case, regarding “social license for new projects”. Instead of mining the ground for new materials, why not recover them from geothermal brine waters extracted by power plants? That’s what the US DOE seems to be trying to promote since “Last summer, the department committed more than $4 million to nine geothermal projects aimed at recovering both heat and minerals from brines. Work on those projects started in October, with results expected by fall 2016 or earlier.“This is effectively ‘solution mining by nature’, and minerals dissolved in these fluids represent potential resources,” according to a DOE paper presented in January at a geothermal energy workshop at Stanford University.”

The article also criticises that no such efforts similar to the DOE are being done in Canada. The article states that “No such research is being funded by the Canadian government, despite the country’s vast mineral resources and efforts by the Canadian Geothermal Energy Association (CanGEA) to raise awareness of the opportunity.“We are delighted that Star Minerals received DOE support for their innovation, but what can the Canadian, provincial and territorial governments do to create these opportunities at home with our own world class resources?” said CanGEA chair Alison Thompson.”

This could create a win win situation for both industries and help develop geothermal projects and making them more efficient by better utilising the byproduct of renewable energy generation.

To read the full article, please follow the link.

Source: Corporate Knights