geothermal plug in the australian

The Australian
28 May 2012
by Robin Bromby

"HOT ROCK PUSH

IT'S been hard to find a pulse in the geothermal sector for some time, and the share prices tell the depressing story. But for all the absence of investor interest, some of the geothermal companies are putting on brave smiles and pressing on.

Kuth Energy (KEN) was as pleased as punch that the World Bank concluded the Sydney company's proposed geothermal plant in Vanuatu should be given priority by that government, being cheaper than the options of diesel, wind or solar. KEN is proposing to build an 8-megawatt geothermal plant. Earth Heat Resources (EHR) has received a letter of interest from Xstrata about the possibility of taking electricity from its proposed geothermal project in Argentina.

Speaking of energy for mining, there has been an interesting presentation by geothermal explorer Petratherm (PTR) about its planned Clean Energy Precinct in northeastern South Australia. Its scheme is to combine geothermal with gas, wind and solar projects to supply mining operations (including the enlarged Olympic Dam) with largely renewable-generation electricity.

Greenearth Energy (GER) has now decided on a site for its Geelong geothermal project, Geodynamics (GDY) is busy drilling in the Cooper Basin and Hot Rock (HRL) has gone into partnership with a Philippine geothermal generator to pursue projects in Chile and Peru."

The article has also made a call on the Rare-Earth bubble. Well and truly burst, according to the Australian.

Click Here for the link to the opinion piece, opens in new window.