Red Hill made the decision after it was unable to reach an agreement on further developing the project with an entity involving Aquila Resources and POSCO.
In the short term, emissions are on a rising trend, notwithstanding a temporary decline during the covid-19 pandemic, putting the world a long way off track to reach zero emissions by 2050.
The project will help cut carbon emissions by 12% compared with 2020 levels at its Mt. Keith and Leinster nickel operations, where power is currently being generated through diesel and gas turbines.