Carbon pricing is pushing mines to look at renewables

Companies are investing in renewables and/or mine electrification to significantly reduce their carbon exposure, stabilize energy costs and boost social license to operate. — Photo: www.sustentator.com

October 4, 2016 – Carbon pricing is pushing mining leaders to consider renewable energy options as a way of further reducing GHG emissions and stabilizing energy costs. “Carbon pricing in Canada is having a major impact on the energy choices of mines,” comments Adrienne Baker, Director of Ottawa-based Energy and Mines, the leading information source for energy innovation in mining. “With carbon becoming a commercial liability, mines are evaluating renewables for remote sites and integrating alternative energy into feasibility studies for new operations as a way of limiting carbon exposure.”

Among the Canadian mining companies leading carbon reduction and renewables integration are Barrick Gold, IAMGOLD, AurCrest Gold, Goldcorp and TMAC Resources, according to Energy and Mines. These companies are investing in renewables and/or mine electrification to significantly reduce their carbon exposure, stabilize energy costs and boost social license to operate. “The projects these mines are doing and the approaches they are taking to energy are models for the entire sector to mitigate carbon risk and address energy challenges,” notes Baker.

Internationally, COP21 targets and emerging carbon policies in key mining jurisdictions including Chile, Argentina, and South Africa are also pushing mining leaders to integrate carbon exposure into their energy choices. According to Energy and Mines, mining leaders are adopting shadow prices on carbon and introducing carbon risk into their energy plans for global operations which is a big change over the last two years when the core focus has been energy savings. “Many mines including Newmont and Gold Fields are elevating carbon risk to a strategic level and integrating it into their energy plans,” adds Baker.

Carbon pricing and the role of renewables is a key topic at the 4th annual Energy and Mines World Congress this November 21-22 in Toronto which will bring together over 300 mining, renewables and finance leaders to discuss carbon mitigation and renewables integration. Lightsource Renewable Energy is the “in association” sponsor of this international event which drives connections between global mining and renewables experts to accelerate sustainable energy for mines. Mining companies will also be celebrated for their achievements in renewable energy for the first time this year at the Energy and Mines Renewables in Mining Awards on November 21.

For more information on carbon pricing and mining, contact: Adrienne Baker, Director, Energy and Mines, [email protected] or +1 819 319 3101.