Gone With the Wind – Supplementing Diesel with Wind Energy at a Remote Iron Ore Mine; by Michael Hadfield and Jason Sivich (Econ
Document Type
Oral Presentation
Campus where you would like to present
SURC 202
Start Date
16-5-2013
End Date
16-5-2013
Abstract
Throughout the world our natural resources are becoming increasingly difficult to find and excavate, pushing many operations to more remote areas. A consequence of more isolated operations is the high demand for some form of energy to power their facilities. In Nunavut, Canada, a mining company within the Arctic Circle is looking to supplement its diesel fuel needs with wind energy–a relatively inexpensive renewable resource. A mining facility of its capacity requires a substantial amount of diesel fuel, an expensive asset to transport and store, to operate everything from its mining equipment to its onsite living quarters. Using documented and projected diesel and wind electrical generation capital expenditures and operations and maintenance (OandM) costs, technical data on operating efficiencies, and projected fuel costs, we can assess the potential profitability of wind power supplementation. Through our research, we can project that with a twenty-year operational life of the wind facility, the mine can save $CDN150 million on energy costs. This project is a stepping-stone in opening the eyes for venture capitalists to invest in companies transitioning to renewable energy sources.
Recommended Citation
Hadfield, Michael and Sivich, Jason, "Gone With the Wind – Supplementing Diesel with Wind Energy at a Remote Iron Ore Mine; by Michael Hadfield and Jason Sivich (Econ" (2013). Symposium Of University Research and Creative Expression (SOURCE). 39.
https://digitalcommons.cwu.edu/source/2013/oralpresentations/39
Additional Mentoring Department
Economics
Gone With the Wind – Supplementing Diesel with Wind Energy at a Remote Iron Ore Mine; by Michael Hadfield and Jason Sivich (Econ
SURC 202
Throughout the world our natural resources are becoming increasingly difficult to find and excavate, pushing many operations to more remote areas. A consequence of more isolated operations is the high demand for some form of energy to power their facilities. In Nunavut, Canada, a mining company within the Arctic Circle is looking to supplement its diesel fuel needs with wind energy–a relatively inexpensive renewable resource. A mining facility of its capacity requires a substantial amount of diesel fuel, an expensive asset to transport and store, to operate everything from its mining equipment to its onsite living quarters. Using documented and projected diesel and wind electrical generation capital expenditures and operations and maintenance (OandM) costs, technical data on operating efficiencies, and projected fuel costs, we can assess the potential profitability of wind power supplementation. Through our research, we can project that with a twenty-year operational life of the wind facility, the mine can save $CDN150 million on energy costs. This project is a stepping-stone in opening the eyes for venture capitalists to invest in companies transitioning to renewable energy sources.
Faculty Mentor(s)
Charles Wassell