General Moly (TSX: T.GMO, Stock Forum) late Wednesday announced that the Public Utilities Commission of Nevada has granted a permit to construct a 230 kV power line that interconnects with Nevada Energy’s transmission system at the existing Machacek Substation located near the town of Eureka, NV and extend it approximately 25 miles to the planned Mt. Hope Substation, this according to a company news release.
General Moly is developing the Mt. Hope molybdenum project located in central Nevada and expects at full production the mine will have a total electrical demand load of approximately 75 megawatts.
“This permit allows us to build the transmission infrastructure in a timely manner and provide the necessary capacity to power everything from the electric shovels we will begin to use during pre-stripping operations to the 60,000 ton per day mill which will start up when Mt. Hope begins production. Construction of the transmission line will also include upgrades to an existing substation near Eureka that will improve the reliability of electrical power to that community,” said General Moly Chief Operating Officer Bob Pennington.