Three way partnership fashioned between VRX Silica and Steam Sources for geothermal exploration in Western Australia
VRX Silica has entered right into a three way partnership with Steam Sources by way of Hydro X for the geothermal exploration of the Dandalgan allow space in Western Australia.
Silica sand firm VRX Silica has entered right into a Farm-in and Joint Enterprise Settlement with Hydro X for a Geothermal Exploration Allow on the Dandaragan website in Western Australia.
The Geothermal Exploration Allow 44 (GEP 44) was awarded to VRX Silica earlier this 12 months following a bid spherical for 21 geothermal exploration areas that was introduced by the Authorities of Western Australia in 2022. GEP 44 was solely one in every of six geothermal exploration permits granted by the West Australian Division of Minerals, Business, Sources, and Security (DMIRS).
GEP 44 consists of eight contiguous blocks together with the Walyering gasoline discipline. The undertaking present s an alternate power options of the silica sand property of VRX Silica and its long-term ambitions of glass manufacturing in Western Australia. The allow was granted on July 2023 and has a time period of six years.
The three way partnership gives Hydro X with an exploration play with the experience available to developed untapped geothermal assets for a deliberate entry into the Australian Inventory Trade as Steam Sources (Steam). The allow additionally represents a novel improvement alternative for geothermal power manufacturing in Western Australia which is able to complement different property within the Northern Territory and South Australia.
“Current developments in supercritical CO2 geothermal plant design enormously will increase the potential for vital baseline manufacturing of inexperienced geothermal power in Western Australia,” mentioned Josh Puckridge, Managing Director of Steam Sources. “Leveraging Steam’s work within the geothermal trade with Allow 44 is of nice worth to our shareholders and the shareholders of VRX.”
“We’re impressed by the credentials of Steam’s administration group and look ahead to working with them to understand the total potential of the Dandaragan geothermal undertaking,” added Bruch Maluish, Managing Director of VRX.
“Within the meantime, VRX Silica continues work on the event of our silica sand initiatives at Arrowsmith, Muchea and Boyatup as we try to develop into a number one provider globally of high-quality silica sand merchandise.”
Supply: Market Open Australia
