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Ironveld PLC - South Africa-focused exploration and development company - Says it has been working with the project development and engineering teams from Enernet Global Inc to develop an optimised hybrid power plant. Adds that the power plant ‘will deliver clean, reliable and low cost power for the smelter facility in Rustenburg.’ Says the first stage of the service is underway with a one megawatt pre-operations power facility that will allow Ironveld to test and re-commission the smelter. Enernet will complete installation of the pre-operations power this month.
Enernet will fully finance the power plant and sell energy through a power purchase agreement to Ironveld, it adds.
Current stock price: 0.28 pence, down 1.8% on Monday morning in London
12-month change: down 64%
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