Silver Mines secures $20m investment from Lundin, Rule-led fund
The company's flagship project hosts the largest known undeveloped silver resource in Australia.
Barrick Gold, IAMGOLD, AurCrest Gold, Goldcorp, TMAC Resources, Newmont Mining and Gold Fields are getting serious about renewables, says an Energy and Mines analysis published on Thursday.
Adrienne Baker, director of the Ottawa-based research firm, is quoted saying that major producers are investing in renewables and/or mine electrification and adopting shadow prices on carbon to mitigate carbon risk and address energy challenges. Many of them are even including new chapters into their energy plans to address obligations imposed by the need to reduce greenhouse gas emissions.
“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,” Baker explained. Last week, Canada’s Prime Minister Justin Trudeau said that his government will establish a “floor price” on carbon pollution of $10 a tonne in 2018, rising to $50 a tonne by 2022.
Trudeau’s announcement is part of Canada’s strategy to cut GHG by 30% from 2005 levels by 2030, as established is the country’s commitments within the Paris agreement on climate change.
Thus –Energy and Mine says- gold producers need to take into consideration the terms of the COP21 accord when selecting their energy choices, as well as the fact that carbon policies are also emerging in places like Chile, Argentina, and South Africa.
3 Comments
goldfinger
Ha ha ha ha.. Now this is funny. Trying to get a gold miner to consider renewable energy is like talking Russian to a Swahili speaking bushman. They look at you with a big Huh, its not a yellow truck. When it comes down to internal to those companies its about competition to capital. And big yellow trucks and drill rigs win over renewable energy every time. The planet and saving money be damned.
Boom Core
Good topic. I recently read about the maintenance of large wind turbines, interesting information. http://oil.globecore.com/
Man in Africa
It is really a good thing to push the miners to take in consideration the renewable energy