Nordgold launches new power plant at Lefa mine in Guinea, capex totals $30 mln

MOSCOW. Aug 24 (Interfax) - Nordgold has commissioned a new 33-MW power plant at the Lefa mine in Guinea, the Russian goldminer said in a statement.

Nordgold said that investment in the project totaled $30 million, having risen from the originally estimated $23 million in 2020, when the goldminer first agreed on the design and construction of the power plant.

The new oil-fired power plant has replaced the existing one, thereby reducing fuel consumption to generate electricity by 15% and motor oil by 30%, Nordgold said. Consequently, the project will reduce greenhouse gas emissions by 17,000 tonnes per year.

"The new power plant should reduce operating costs significantly and ensure a stable supply of power to the Lefa mine for the entire operating period that is over 15 years as of today," Nordgold added.

Nordgold is among the top-five gold-mining companies in Russia, and the group includes assets in Kazakhstan, Guinea and Burkina Faso. Marina Mordashova is the controlling shareholder with a stake of 52%.