Market Chatter: Northern Star Resources in Talks with Government-Owned Utility to Supply Additional Back-Up Power to Western Australia Grid

MT Newswires Live
07/29

Northern Star Resources (ASX:NST) is in talks for commercial terms with government-owned utility Western Power for the supply of up to 70 megawatts (MW) of additional capacity for the grid in Kalgoorlie-Boulder, Western Australia, ABC News reported on Wednesday.

Northern Star jointly owns the 110 MW Parkeston power station at Kalgoorlie. Western Australia's Energy Minister Amber-Jade Sanderson said it would enter into an arrangement with Northern Star to use their Parkeston facility and any excess power.

Northern Star's chief technical officer, Steve McClare, said the miner's plans to build a new 140 MW thermal power station and a separate 366 MW renewable facility, including up to 32 wind turbines and 230,000 solar panels, are in the final stages.

The firm's shares rose over 1% in recent trading on Wednesday.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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