OceanaGold aims to achieve net-zero emissions from its operations by 2025

20 November 2020 (Last Updated November 23rd, 2020 08:48)

Gold miner OceanaGold has set a target of net-zero emissions by at its operations 2025.

OceanaGold aims to achieve net-zero emissions from its operations by 2025
With the latest move, OceanaGold becomes the latest miner to make a climate change pledge. Credit: RitaE from Pixabay.

Gold miner OceanaGold has set a target of net-zero emissions by at its operations 2025.

With the latest move, OceanaGold becomes the latest miner to make a climate change pledge.

The company’s ‘environmental management strategy’ is aimed at the risks associated with climate change as well as to minimise its greenhouse gas emission intensity.

OceanaGold president and CEO Michael Holmes 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.”

According to the company, the delivery of net-zero carbon emissions production would be dependent on ‘step changes from new and emerging technologies’ to decarbonise the gold miner’s electricity supplies and mobile equipment use, and ‘incrementally improving energy use’.

Holmes added: “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.”

Last month, OceanaGold made its first round of permanent redundancies at its Didipio operation in the Philippines, as operations at the project remain closed.

In February last year, OceanaGold obtained resource permits to commence operations at its Martha Underground Project in Waihi, New Zealand.