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OceanaGold commits to net zero emissions by 2050

Published by
Global Mining Review,


OceanaGold Corp. has released a position statement on climate change, including an emissions reduction goal to achieve net zero emissions from its operations by 2050.

The goal is core to OceanaGold’s environmental management strategy to mitigate the risks associated with climate change, establish measures and targets to improve the efficiency of its energy use and to minimise its greenhouse gas (GHG) emission intensity.

Michael Holmes, President and CEO of OceanaGold, said: “OceanaGold has been strongly committed to responsible mining for 30 years, and with current emissions lower than global industry average, we are already on the journey to reduce our carbon footprint.”

“OceanaGold fully supports the Paris Agreement's goal of limiting the increase in global average temperature to well below 2°C above pre-industrial levels. In line with this objective, we are setting a goal to achieve net zero GHG emissions from our operations by 2050, and we will establish milestone intensity targets (GHG emissions per ounce of gold produced) by 2022 to support this goal,” Holmes added.

Delivery of net zero carbon emissions production will rely on step changes from new and emerging technologies to decarbonise OceanaGold’s electricity supplies and mobile equipment use and incrementally improving energy use, efficiency and reducing energy consumption.

Since 2018, OceanaGold has been implementing a company-wide program of automation, digital and process transformation called ADaPT, which is helping define the company’s journey to operate the mines of the future.

“Digital transformation presents an industry-wide opportunity to enhance performance and reduce impact. Successful implementation of the rapid advances in technology, innovation, automation, digitisation and electrification are central to achieving OceanaGold’s commitment to reduce our environmental impact,” Holmes commented.

OceanaGold has established a roadmap of strategic actions to help reduce its carbon footprint and improve energy management, including:

  • Setting the goal to achieve net zero GHG emissions by 2050.
  • Establishing milestone interim emission targets by the end of 2021, linked to employment performance incentives,
  • Establishing a climate change Technical Coordinating Committee to identify opportunities to reduce GHG emission intensity and identify risks, opportunities, priorities and costs across OceanaGold.
  • Undertaking climate change management and reporting to meet the requirements of the Task Force on Climate-related Financial Disclosures (TCFD).

Targets will be achieved through the implementation of four key strategic areas: improved energy efficiency and energy reduction, decarbonisation of electrical energy supply, decarbonisation of mobile equipment fuel, and carbon sequestration.

Read the article online at: https://www.globalminingreview.com/environment-sustainability/19112020/oceanagold-commits-to-net-zero-emissions-by-2050/

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