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Critical Minerals Group Ltd. ( (AU:CMG) ) has provided an announcement.
Critical Minerals Group Ltd. has completed a power supply study for its Lindfield Vanadium Project in Queensland, revealing that a hybrid solution of wind and solar energy, supported by vanadium flow batteries and diesel backup, offers the lowest long-term power costs. This approach not only reduces costs significantly compared to diesel-only options but also enhances renewable energy penetration, showcasing the advantages of vanadium flow batteries in large-scale mining operations. The company plans to proceed with implementing this hybrid solution, which aligns with its strategy to promote sustainable and cost-effective energy solutions.
More about Critical Minerals Group Ltd.
Critical Minerals Group Limited (ASX:CMG) operates in the mining industry, focusing on the extraction and development of critical minerals. The company is particularly involved in the vanadium sector, aiming to leverage the mineral’s potential in renewable energy storage solutions.
Average Trading Volume: 13,097
Technical Sentiment Signal: Buy
Current Market Cap: A$14.03M
For a thorough assessment of CMG stock, go to TipRanks’ Stock Analysis page.