ONTARIO – Toronto’s Rubicon Minerals Corp. is busy preparing the Phoenix gold mine and mill near Red Lake for production later this year, but not too busy to take a positive step toward controlling operating costs. The company has been accepted into the Industrial Electricity Incentive Stream 3 program (IEI program) from the Independent Electricity System Operator.
Over the nine-year length of the program contract, Rubicon anticipates saving $4 million per year (based on 2014 electricity rate information).
Said Rubicon president and CEO Michael A. Lalonde, “Managing costs continues to be a key focus for us during the ramp-up and operating periods following projected initial production, which remains on schedule for mid-2015.”
The IEI program is intended to help companies across Ontario reduce electricity costs, increase competitiveness, and better manage their electricity use. For more information, please visit the IESO website at IESO.ca/ or click here.
For the latest information about the Phoenix project, visit RubiconMinerals.com.