Canada’s new carbon pricing proposal is pushing mining leaders to consider renewable energy options as a way of further reducing greenhouse-gas emissions and stabilizing energy costs, according to Ottawa, Ontario-based Energy and Mines.
“Carbon pricing in Canada is having an impact on the energy choices of mines,” said Adrienne Baker, director of Energy and Mines. “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.”
According to Energy and Mines, among the Canadian mining companies leading on carbon reduction and renewables integration are Barrick Gold, IAMGOLD, AurCrest Gold, Goldcorp and TMAC Resources.
The company says these entities 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,” added 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, notes Energy and Mines.
The company says 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,” said Baker.