MONTREAL, July 03, 2024 – Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) (“Aya” or the “Corporation”) is pleased to announce that it has completed commissioning of its electrical line and begun powering its Zgounder Silver Mine in the Kingdom of Morocco with renewable energy.
- Highlights
- On June 30, the 93km, 60kV power line was commissioned and powered:
- The departure and arrival substations have also been commissioned and energized.
- The line is connected to the Office National de L’Électricité et de l’Eau Potable (ONEE) high-voltage national electricity grid.
- The new power line is expected to provide a low-cost, predictable supply of electricity to the new Zgounder plant:
- Our 20-year power purchase agreement with Nareva’s Énergie Éolienne du Maroc (EEM), along with the access to the national high-voltage grid, is projected to reduce electricity unit costs by up to 15%.
- Reduced exposure to uncertain power costs.
- Improved electrical redundancy on site.
- The power line ensures local, low-carbon electricity for expanded operations:
- The green electricity is sourced from the Nareva-EEM wind farms in Morocco.
- Use of the power line is expected to lower Zgounder’s carbon intensity by 88% in 2025 compared to 2021.
- Design of the electrical infrastructure allows for the incorporation of additional facilities to expand power distribution.
“Completion of the power line is an important infrastructure milestone that clears the path to production at our new plant and will be a major contributor to Zgounder’s low-quartile operating costs,” said Benoit La Salle, President & CEO of Aya. “Along with its future production, cost and climate benefits, its completion means we have met our second TCFD disclosure requirement, which will reduce our cost of capital by 50% on our CTF tranche.”
Figure 1 – Zgounder’s 93km, 60kV Power Line
Figure 2 – Completion of Arrival Substation
About Aya Gold & Silver Inc.
Aya Gold & Silver Inc. is a rapidly growing, Canada-based silver producer with operations in the Kingdom of Morocco.
The only TSX-listed pure silver mining company, Aya operates the high-grade Zgounder Silver Mine and is exploring its properties along the prospective South-Atlas Fault, several of which have hosted past-producing mines and historical resources. Aya’s Moroccan mining assets are complemented by its Tijirit Gold Project in Mauritania, which is being advanced to feasibility.
Aya’s management team has been focused on maximising shareholder value by anchoring sustainability at the heart of its operations, governance, and financial growth plans.
