(MENAFN- ProactiveInvestors)
Speciality metals development company Wolf Minerals (LON:WLFE ASX:WLF) has settled on the company it wants to provide grid power to its Drakelands mine in England.
Following a tender process conducted by The Energy Services Partnership Ltd DONG Energy has been awarded the contract to supply grid power to the open pit mine currently being constructed at the company's Hemerdon tungsten and tin project in Devon in south-west England.
DONG Energy will supply a projected 82 gigawatt hours (GWh) to the operation for a three-year period. The forecast power prices are in line with estimates contained in the definitive feasibility study (DFS).
DONG Energy 59% owned by the Danish government is the third largest gas supplier to the UK's industrial and commercial market with a 12% market share.
The rates locked into the contract are similar to those used in the DFS which will contribute to Wolf being a low cost producer of tungsten.
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