Safe-haven gold aims to reinvent itself as a ‘climate risk mitigation’ asset with ‘net zero’ emissions

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The industry is repositioning itself as an asset investors would be eager to add to their portfolio to lower the overall emissions of their investments

This September, Newmont Goldcorp summoned a host of local and provincial dignitaries to Chapleau, Ontario, where it christened its Borden gold project, ‘the mine of the future.’

It ties into the Paris Agreement of 2015, in which nearly every major country with one exception — the United States — has committed to reducing emissions to limit the global temperature rise to less than two degrees, and to try to keep it from rising more than 1.5 degrees. About 90 per cent of those are linked to production, including mining, milling, concentrating and smelting, refining and recycling and the indirect emissions from electricity consumption and the goods and suppliers used, the report found.

“We’ve made the case, that while challenging, this is feasible for the gold mining sector,” said Heymann. Vancouver’s B2Gold Inc. installed a seven megawatt solar plant at its mine in the desert in Namibia, reducing its reliance on diesel generators, and it is constructing a 30 MW solar plant at its Fekola Mine in Mali.

 

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