Nippon Mining & Metals Eyes Geothermal Power Business

Nippon Mining & Metals examines to enter geothermal power generation business. Large presence of geothermal energy is expected at the firm’s operating mines and mined lands. The firm applied to a national project led by New Energy & Industrial Technology Development Organization (NEDO) to accelerate geothermal energy development.

NEDO will commission geothermal energy surveys in areas where development hasn’t progressed due to exploring risks and other factors to Japanese related companies. A commissioned company can receive exploring subsidy at approximately 100 million yen. NEDO will select commissioned companies at the end of June and then field researches will start.

There exists abundant geothermal energy in Japan of volcanic country. Domestic power companies and 3 nonferrous metal smelters are entering geothermal power generation businesses. Smelters can utilize mine development technologies for thermal power plant’s construction which needs to dig 2,000-meter-deep wells.

Nippon Mining & Metals could contribute to Japanese government’s target to reduce CO2 emission by 25% in 2020 compared with 1990 through utilization of geothermal energy.