Giyani Metals Corp. - Completion of Solar Plant Study for the K.Hill Manganese Project & Grant of Options
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TORONTO, Jan. 18, 2021 (GLOBE NEWSWIRE) -- Giyani Metals Corp. (TSXV:EMM, GR:A2DUU8) ("Giyani" or the "Company") is pleased to announce that it has completed a
photovoltaic solar plant (“Solar Plant”) study for its K.Hill manganese project (“K.Hill”), in Southern Botswana. In addition, Giyani has granted 750,000 stock options to certain consultants of the
Solar Plant Study
The Company is committed to building an environmentally sustainable operation and to have a positive impact for all of its stakeholders. This includes not only the people, environment and society surrounding K.Hill, but also the end buyers that have shown interest in obtaining a more sustainable source of high purity manganese. The K.Hill site is surrounded by flat topography, which, coupled with the high amounts of annual sunshine, makes it highly attractive for solar power generation.
Approximately 40% of an electric vehicle’s (“EV”) carbon footprint during production is associated with the battery. Feedback Giyani has received from potential end buyers, such as battery manufacturers and original equipment manufacturers (“OEMs”) of EVs - particularly those in Europe, North America, Japan and South Korea - is that they are working to reduce their products’ carbon footprint as much as possible. Therefore, the supply of the battery’s raw materials is a particular focus. This has been supported by public statements by the EV OEMs on the importance of responsibly sourced battery metals. As the market for manganese-containing batteries continues to grow, the Company anticipates that the sustainability of high purity manganese will become of increasing importance.
Tetra Tech was appointed to conduct the Solar Plant study and determine which of the following three scenarios would be most commercially viable:
- The ‘No Export’ scenario considers the maximum size of Solar Plant that during peak solar generation (in the middle of the day) the K.Hill operations are only powered by the Solar Plant. Therefore, there is no facility for either storing or exporting excess power to the grid. Outside of peak generation, the grid supplies the remaining power requirements for the K.Hill operations.
- The ‘Net Zero Annual Generation’ scenario is where the size of the Solar Plant approximately matches the annual energy requirements of the K.Hill operations. During peak solar generation (middle of a summer’s day), the excess power generated is exported to the grid. And vice-versa, during times of no solar generation (at night or on a cloudy day) power is purchased back from the grid. Thereby, on an annualized basis, the actual consumption of grid produced power, and therefore payments to the grid, are near-zero. This scenario would require additional capex for grid transmission and distribution infrastructure upgrades, as well as regulatory approval.
- The ‘Transition into IPP’ scenario envisions Giyani as an independent power producer (IPP), where the size of the Solar Plant is
constrained by the capacity of the local grid interconnection infrastructure, rather than the demand from the K.Hill operations (as per Scenario 2). Similar to Scenario 2, excess power generated by
the Solar Plant will be exported to the grid and bought back, albeit in smaller quantities. This scenario would also require regulatory approval.