The proposed Bankan gold project in Guinea, a key player in West Africa’s gold rush, is set to be powered by a unique hybrid energy model, designed to ensure a reliable and sustainable supply of electricity for the mine site. This innovative approach, unveiled by Australia’s Predictive Discovery, marks a significant step towards the project’s development, as the company gears up to bring this ambitious project to life.

The hybrid model, built around a thermal power source, will be complemented by an additional solar energy plant, a common setup for remote mine sites in recent years. This combination of energy sources will provide a reliable and efficient supply of power, essential for the mining process.

According to Andrew Pardey, Predictive Discovery’s managing director, the company’s focus on power generation is crucial to the project’s success. “Power for the project will be generated through a heavy fuel oil (HFO) power plant in combination with a solar farm,” he said. “This hybrid model will provide a dependable source of electricity for critical and remote mining and industrial applications in West Africa.”

The full capital cost of the entire Bakan project, which will include open-pit and underground mining, is estimated at US$463mn, including pre-production operating costs, indirect costs, and a US$34mn contingency. This significant investment will enable the company to bring the project to fruition and ensure its long-term viability.

Construction is expected to take two years, commencing in Q2 2026, and will enable the start of commercial production in Q2 2028. With this timeline in place, Predictive Discovery is confident that the Bankan project will be developed into “one of the largest gold mines in West Africa in a generation.”

The Bankan project is not only expected to generate significant revenue for the host country, but also create extensive benefits for the local community. According to Andrew Pardey, the project will generate approximately US$2bn in government revenues across the mine’s life, plus potential upside from current gold prices and future mine life extensions.

Furthermore, the project will create significant job opportunities, with a peak construction workforce of around 1,500 personnel and an operational workforce of 1,100 personnel. This will not only provide employment opportunities for local residents but also contribute to the regional economy.

As the next step in the project’s development, Andrew Pardey and his team will need to secure the Exploitation Permit from the government and commence the financing process to fund the project. They will also advance talks with contractors ahead of tendering for work and equipment.

In conclusion, the Bankan gold project’s unique energy model, combined with its significant investment and job creation potential, make it an attractive project for investors and local communities alike.