Browsing: Global Mining

In terms of achieving net zero carbon emissions, the largest mining companies in the world have several options – each with merits and demerits – they can explore.  Mining companies can either divest, decommission, reduce emissions in existing operations, and/or offset assets that produce high greenhouse gas emissions (GHG).

Achieving net zero presents a dilemma because many of the largest miners have made their goal of reaching net zero by offsetting current emissions either through purchasing carbon offsets or investing in solutions that mitigate climate change.

Divesting assets, which is something Anglo American did with their coal assets which they spun off into a pure play standalone coal miner, will decrease a miner’s GHG emissions on a standalone basis. This move simply makes the emissions another person or entity’s challenge. The transfer of assets to third parties increases the risk that those assets may not be de-commissioned promptly or appropriately …

• The global mining industry is changing minerals that drove mining activity and profits are slowly being eclipsed by the emergence of a new class of resources, PWC reports.
• The pursuit of net zero emissions has altered the global mining industry which is increasingly leaning towards the production of minerals used in renewable energy and away from the production of fossil fuels.
• According to PWC Fossil fuels still contribute substantially to global mining companies despite critical minerals taking center-stage.
• Global mining activity despite the threat of global warming is not slowing down. It is to the contrary on the rise as the world looks for ways of reducing carbon emissions.
• At the turn of the millennium the global mining industry was driven by mass urbanization of emerging market economies like China, Brazil, India and Russia this projected to slow down or lose ground to the pursuit of renewable energy sources.

PWC’s …