Banpu rates potential of overseas mining project
SET-listed Banpu, a non-oil energy conglomerate, has announced plans for a mining business to supply feedstock to technology product manufacturing.
Banpu chief executive, Somruedee Chaimongkol, said the company has set up a panel to conduct a feasibility study for the new project in Australia and Indonesia where minerals have high potential to supply factories.
Details of the study, including a time frame, were not revealed. The firm said it may start with small-scale mining, covering nickel, magnesium and cobalt.
These minerals are the main feedstock for the battery production process.
Banpu also owns battery production facilities in China through its subsidiary Durapower Holdings Pte Co.
Earlier, Banpu acquired a 47% share in Singapore-based Durapower, a leading energy storage manufacturer and distributor.
Durapower’s production capacity rose from 80 megawatt (MW)-hours in 2018 to 1 gigawatt-hours in 2019, making it a lithium-ion battery maker with the highest capacity in Asean.
Banpu also plans to focus more on clean energy development in order to achieve a goal to have earnings before interest, taxes, depreciation, and amortisation (Ebitda) of more than 50% in the clean energy business by 2025.
The move follows the acquisition of two operating solar farms in New South Wales, Australia, valued at A$97.5 million (2.33 billion baht). These comprise Beryl Solar Farm, with a capacity of 110.9MW, and Manildra Solar Farm, with a capacity of 55.9MW.