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Osisko Metals explores hydroelectric PPA with Northwest Territories Power

Osisko Metals explores hydroelectric PPA with Northwest Territories Power

Osisko Metals Incorporated and the Northwest Territories Power Corporation (NTPC) in Canada have signed a memorandum of understanding (MOU) to negotiate power connection to the Taltson hydroelectric grid and power purchase agreements.

The MOU will allow both parties to explore, discuss and establish arrangements through which NTPC can supply and sell hydroelectric power and how Osisko Metals can purchase this electricity and any related services for use at its Pine Point Project site. The sale of excess electricity generated at the 18 MW Taltson Hydroelectric Facility will be a significant part of the discussions.

Taltson Hydro is about 64 km north of Fort Smith on the Taltson River. It provides power to Fort Smith, Hay River, Hay River Reserve, Fort Resolution and Enterprise. The Taltson system is connected to the communities by 200 km of transmission lines, maintained by NTPC. Depending on the time of year, available capacity from Taltson facility ranges from 3.5 MW to 8 MW, according to a release.

The Pine Point Project is a past-producing zine mining camp located on the south shore of Great Slave Lake in the Northwest Territories, which is near infrastructure, has paved highway access, and has an electrical substation as well as 100 km of viable haulage roads already in place.

“The Pine Point Project would require additional power when production begins, currently projected to be in 2028,” said Jeff Hussey, president and chief operating officer of Osisko Metals. “The potential to access clean hydropower is an attractive opportunity that we want to explore further with NTPC. Our preference is to find ways to maximize the consumption of hydroelectric power, thereby reducing the project’s carbon footprint and reducing operating costs.”

Cory Strang, president and chief executive officer of NTPC, said, “NTPC is committed to being the power provider of choice in the NWT and we look forward to advancing discussions with Osisko Metals on how we can support their efforts to bring the Pine Point Project back into operation. A potentially new industrial customer in the South Slave using the Taltson system’s excess hydroelectricity capacity will help to moderate electricity rates for all customers.”

NTPC is a wholly owned subsidiary of NT Hydro, which is 100% owned by the government of the Northwest Territories. NTPC supplies power using hydro, thermal and intermittent renewable energy facilities. Its hydro plants are located on the Snare, Bluefish and Taltson rivers and directly supply the North Slave communities of Behchoko and Dettah and the South Slave communities of Fort Smith and Fort Resolution. NTPC also provides hydro power to Northland Utilities Limited (NUL), which distributes power in the North Slave communities of Yellowknife/N’Dilo and the South Slave communities of Hay River, K’atl’odeeche First Nation and Enterprise

Osisko Metals is a Canadian exploration and development company in the critical metals space.