Friday 9th December 2022 Font size:

AGL signed on to power Cowal

Wednesday, October 5th, 2022

Evolution Mining has secured a competitive, long-term power supply agreement with AGL Energy for its Cowal gold operation in New South Wales.

The eight-year partnership begins in January 2023.

With power costs representing seven per cent of Evolution’s total costs, the deal agreement provides ongoing long-term security of power supply to Cowal at competitive pricing consistent with Evolution’s previously reported FY23 guidance and FY24 outlook.

Importantly, a growing portion of the power will be from renewable sources and provides Evolution a clear pathway to meeting its commitment to reduce energy (Scope 1 and Scope 2) emissions by 30 per cent by 2030.

Evolution operates five wholly-owned mines — Cowal in NSW, Ernest Henry and Mt Rawdon in Queensland, Mungari in Western Australia, and Red Lake in Ontario, Canada.

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