NEW CENTURY RESOURCES New Century Resources Limited provided an update on Century operations, including record monthly production and a non-binding Memorandum of Understanding (MOU) with APA Group for the supply of up to 8 MW of solar power to the Century Mine. The MOU contemplates an amendment and optimisation of New Century's existing Power Purchase Agreement (PPA) to include a new energy product supplied from the under-construction 88MW Mica Creek Solar Farm. APA is developing the solar farm in Queensland's North West Minerals Province (NWMP).
The strong operational performance at Century has continued into the September quarter to date, following on from the 14% Q-on-Q improvement in production in the June quarter. The Company have delivered record monthly metal production in July, with 12,109t of zinc metal produced at average monthly recoveries of 51%, the best result since the restart of operations. Operations have continued this strong performance into August, with a monthly unreconciled total of 11,768t of zinc metal produced at 50% recovery.
These results provide the opportunity for New Century to deliver a strong September quarterly production and operational cashflow performance. The Company will provide a further update on operational performance in the September quarterly report. Solar Power Memorandum of Understanding: New Century and APA have entered into a non-binding MOU for the provision of up to 8MW of renewable solar power, to be supplied from the under-construction Mica Creek Solar Farm.
The MOU represents a milestone in New Century's ongoing commitment to improved ESG performance and identifying opportunities to reduce the carbon intensity of the Company's operations. Combining this new renewable solar energy generation with the current supply from the highly efficient Diamantina Power Station complex, will result in a reduced average delivered cost of power to Century while materially reducing the associated carbon emissions. Further cost management will be achieved through New Century retaining the associated Large-scale Generation Certificates (LGC) from the purchased solar power.
Under the MOU the parties will work together on additional new renewable generation opportunities in the region with the aim of further reducing carbon emissions and providing long term clean energy supplies with price certainty.
