Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
MiTRAQ and the Department of Natural Resources Canada (NRCan) have unveiled the Mining Energy Benchmarking Platform to promote energy efficiency and support a transition to the low-carbon future of the Canadian mining industry.
This first of its kind platform was developed through the collaboration of MiTRAQ and NRCan’s CanmetMINING and the Office of Energy Efficiency, as support of net-zero oriented projects in the natural resource sector is a national priority.
With the Benchmarking platform, miners can anonymously compare their sites’ energy efficiency to the aggregated data supplied by peers
The Mining Energy Benchmarking Platform enables analysis of power generation and consumption at mine sites and provides data-driven insight into energy use productivity.
With the Benchmarking platform, miners can anonymously compare their sites’ energy efficiency to the aggregated data supplied by peers.
The platform includes customizable indicators, built specifically for open-pit and underground mines producing 46 different minerals and using power sources ranging from diesel to renewables. Data is entered at regular intervals, providing an up to date benchmark. The tool also has flexible analysis options and custom reporting on energy performance.
In the framework, NRCan will subsidize licenses so mining companies can access the Energy Benchmarking Program until June 2021. A company can enter data for multiple sites under a single license.
The prerequisites for free enrollment include the location of at least one mine site in Canada and registration in the Canadian Industry Partnership for Energy Conservation (CIPEC).
“The achieved cost-savings for our members from our operational benchmarking platform have been significant, and I am confident that this platform will amplify the positive effect by driving down energy costs and improving ESG performance,” MiTRAQ managing director Ghaleb El Masri said in a media release.
Applications for enrollment are accepted until January 15, 2021.
