Agreement signed to develop small hydroelectric plant in Liberia

Hummingbird Resources has signed a collaboration agreement to begin planning and developing a small hydroelectric plant in southeast Liberia.

The agreement, signed with IFC InfraVentures, the IFC Global Infrastructure Project Development Fund, and Aldwych International, an energy company active in the growing economies of Africa, covers a plant to be located about 10 km from Hummingbird’s Dugbe 1 Gold Project.

The hydro project would have a capacity between 20 MW and 30 MW.

Hummingbird Resources says the plant would significantly contribute to the domestic power supply in southeast Liberia and provide considerable potential to reduce operating costs of the Dugbe 1 mine through the delivery of low-cost power.

A pre-feasibility study will be conducted by Knight Piesold Consulting to assess the technical and economic viability of the project. The study is expected to be complete by April 2016 and will cost US$265,000 (provided by IFC InfraVentures).

In February 2014, Knight Piesold conducted a desktop study regarding the development of a hydroelectric plant to supply future power to Dugbe 1 once in production. A preliminary economic assessment of Dugbe 1 was completed in April 2013 and demonstrated the viable economics of developing a 20-year gold mining project. Hummingbird Resources is continuing to advance Dugbe 1 and is progressing definitive feasibility study optimization work, according to a press release.

“This collaboration represents an extremely exciting opportunity for Hummingbird, working together with two highly regarded partners … to develop a sustainable source of power for Dugbe 1 and to secure the future domestic power supply for the southeast Liberian region,” said Dan Betts, chief executive officer of Hummingbird Resources.

IFC InfraVentures helps develop public-private partnerships and private projects for infrastructure in developing countries. Aldwych International was established in 2004 for the purpose of developing, owning and operating power generation, transmission and distribution projects in emerging countries, primarily Africa.

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