G Mining Ventures Corp (TSX-V:GMIN, OTCQX:GMINF) has announced the successful early completion and activation of the power transmission line at its 100% owned Tocantinzinho Gold Project (TZ Project) in Brazil’s Pará State
The company said the 193 kilometer (km), 138 kilovolt (kV) powerline will supply renewably generated power to Tocantinzinho and will be energized ahead of process plant commissioning, well in advance of commercial production in the second half of 2024.
With the TZ Project now connected to Brazil’s electrical grid, G Mining Ventures said it is beginning to realize benefits that include fixed energy pricing for the next three years at approximately 25% lower than the estimates used in the 2022 Feasibility Study and guaranteed supply of certified renewable hydroelectric power, with traceability, in line with its target of being a low CO2 emission gold producer.
In a statement, the company’s CEO Louis-Pierre Gignac credited transmission line manager Leoncio Vieira Neto and his team for achieving the milestone ahead of schedule.
“The completion of the powerline and successful connection to the electrical grid will reduce our operating costs, improve reliability, and demonstrates our commitment to sustainable development by reducing our carbon footprint,”
“In his new role leading our operational readiness initiatives, I anticipate that Leoncio will continue to make significant contributions toward advancing TZ to commercial production in H2-2024."
G Mining Ventures is a mining company engaged in the acquisition, exploration and development of precious metal projects, to capitalize on the value uplift from successful mine development.
The company is well-positioned to grow into the next mid-tier precious metals producer by leveraging strong access to capital and proven development expertise. It is currently anchored by its flagship Tocantinzinho Gold Project in the mining-friendly and prospective State of Pará, Brazil.