


For a pumpedhydro energy storage system to be viable you need a high
reservoir and a low reservoir, each of which can hold a substantial
volume of water; the required reservoir size will depend on the desired
energystorage capacity.
Unlike in conventional hydropower, in pumpedhydro the same water can be used
over and over again.
The amount of energy that can be stored is proportional to the product of the altitude difference times the volume of the storage: that is, either a big volume with a moderate altitude difference between the reservoirs, or a smaller volume and a big altitude difference. So, what is needed?

One Australian mine that is being considered for pumpedhydro energy storage
is the opencut Kidston gold mine in Queensland.
This was discussed in
Renew Economy on 2015/10/08.
Another, in Canada, is the Marmora project in Ontario, with an expected capacity of 400MW for up to 5 hours. Its designed average head is 140m. 
Perhaps at Olympic Dam?
It seems that around 9 million tonnes of ore have been mined annually for at least 10 years; say 90 million tonnes total. This would have occupied a space of perhaps 25 million cubic metres. Supposing that this space is still open, it could contain 25GL of water. The depth of the ore body is up to 2km. For the sake of calculations I will suppose that only 10% of this space is available for use in a pumpedhydro project, and that the available space is 500m below the surface. From Energy Units we see that lifting 1GL over 100m involves 270MWh of energy. So, lifting 2.5GL 500m would involve 3.4GWh, a very substantial amount of energy. Olympic Dam is connected to the eastern Australian power grid and it has an excellent solar power resource, so the pumpedhydro could be combined with a major solar power station. 
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