ASX ANNOUNCEMENT 14 September 2016
ASX Code: BDR
TUCANO TO TRANSITION TO GRID POWER
Beadell Resources Limited ("Beadell" or "the Company") is pleased to provide an update on power supply at its 100% owned Tucano gold mine in northern Brazil.
The Company, with the support of the Government of Amapa State, has signed a Deed of Undertaking ("the Deed") with Amapa Electricity Company ("CEA"). Under the Deed, Beadell has now commenced required improvements to the existing 110km 69 KV power line which terminates at Tucano. These improvements will assure the quality of electricity supplied to the nearby towns of Serra do Navio, Pedra Branca do Amapari and other smaller villages. Power supply regularity will be improved and power outages reduced. The majority of Beadell's employees come from these areas and the Company is pleased to be able to assist in improving power supply and reliability for all stakeholders.
Once the improvements are complete Tucano is aiming to increase its grid power supply from the current 1MW to initially 5MW around the end of 2016 and ultimately to 12MW. The reduction of reliance on diesel generated power will have an immediate and material effect on operating costs at Tucano.
Commenting, Simon Jackson, CEO and Managing Director said: "We are delighted to have signed the deed of undertaking with CEA and continue our excellent relationship with Amapa State government. The improvement in power supply to the region will benefit all stakeholders and further underpin the future of a long life mining operation at Tucano".
For further information please contact: Simon Jackson | Chief Executive Officer Greg Barrett | Chief Financial Officer
T: +61 8 9429 0800
[email protected]
Beadell Resources Limited
Second Floor, 16 Ord Street, West Perth 6005, Western Australia
ABN 50 125 222 291 PO Box 542, West Perth 6872, Western Australia
www.beadellresources.com.au Telephone: +61 8 9429 0800 | Facsimile: +61 8 9481 3176