Really interesting development here: it looks like geothermal powerAlso known as geothermal power. Heat that is stored inside the earth is transformed into electrical energy by geothermal power plants. This form of energy is considered to be cost-effective, reliable and friendly to the environment. could offer a chance for the mining industry and renewable energyRenewable energy is power generated from infinite sources, such as wind or solar power. Conventional energy is generated from finite sources, such as natural gas or fossil oil. to become partners!

A new project called Geotermia Andina represents geothermalAlso known as geothermal power. Heat that is stored inside the earth is transformed into electrical energy by geothermal power plants. This form of energy is considered to be cost-effective, reliable and friendly to the environment. fields that are located near large scale mining activity along the Andean ranges and the border between Chile and Argentina. At the end of October, Geotermia Andina signed a Letter of Intent with Barrick Gold Corporation, for the development of the Los Despoblados geothermal project in San Juan, Argentina.lightbulb.gif

Los Despoblados is located 10km from Barrick’s Veladero mine, with an energy demand of 14MW. By funding the initial drilling campaign, Barrick will be entitled to 70% of the power it produces. There are also hopes to supply Barrick’s Bi-National, Chile-Argentina Pascua Lama mine, which will require 120MW in two years time.