Vedanta to exclude base metals business from sweeping demerger
The group said it will consider the base metals business demerger at a later stage.
Foran Mining Corporation’s (TSX.V: FOM) McIlvenna Bay deposit in Saskatchewan, Canada, may become the world’s first carbon-neutral copper development project.
The Vancouver-based company announced this week that it has partnered with carbon measurement firm Carbonzero and sustainability advisor Synergy Enterprises to accurately record its emissions and purchase verified offsets for the carbon emitted from all exploration activities over the past 10 years at the deposit.
“The move underscores Foran’s commitment to building the world’s first fully carbon-neutral copper mine and is part of its broader mission to create a blueprint for responsible mining that causes the least possible harm from day one through the innovative use of technology, renewable energy and fleets of electric vehicles and equipment,” the miner said in a media statement.
Foran will record its emissions and purchase verified offsets for the carbon emitted from all exploration activities over the past 10 years at the McIlvenna Bay deposit
“By offsetting the carbon emitted in the exploration phase, Foran aims to ensure that it accounts for the entire impact of the project from development, through to operations, to eventual closure.”
According to Foran, the offsets, which neutralize emissions produced through land-use changes and clearing, fuel-use for exploration and travel to and from the site, will be purchased in the coming weeks and will help provide funding for projects such a wind power facility in Guatemala, and a forest protection initiative in Inner Mongolia.
“We are exploring all kinds of exciting initiatives in line with our audacious mission; this is just the first. McIlvenna Bay will host a centralized mill to support our other world-class deposits and we intend to be around for a long time to come,” Dan Myerson, the company’s executive chair, said in the brief.
“Copper and zinc are essential products that are needed for building a sustainable future such as solar and wind technologies, and electric vehicles. It is imperative we find a way of producing them in a responsible way that lowers social and environmental impact while also creating greater and more sustainable returns.”
