Energy Efficiency, GHG Emissions, Industrial, Sourcing Renewables - June 1, 2020
Newmont cuts emissions intensity by 13.7%, seeks RE
Newmont reported June 1 that they have seen a drop in emissions and energy use due to operational improvements despite an increase in overall production and in 2019 sourced 22.4% of their global electricity from renewable sources.
The metals company previously set a target to reduce greenhouse gas emissions intensity by 16.5% between 2013 and 2020, and as of the end of 2019, they had succeeded in reducing that intensity by 13.7%, or 80% of their 2020 target. Additionally, energy consumption decreased by nearly 9%, according to their newly released sustainability report.
“Our sustainability report provides investors and other stakeholders a transparent and detailed look at look at our safety, environmental and social performance,” Tom Palmer, President and Chief Executive Officer, said in a statement. “In 2019, we completed two transformative transactions whilst enhancing our ESG performance to align with our position as the world’s leading gold company.”
Newmont expects the April 2019 acquisition of Goldcorp to increase their overall production while adding operations with lower carbon emissions intensity. They expect their changes in organizational structure to result in a 5.4% decrease in CO2e between 2018 and 2019.
The company’s environmental strategy consists of five ongoing pillars of improvement: supply chain, cost efficiency, carbon reduction, climate change adaptation and collaboration on policy, challenges and opportunities.
Newmont has implemented a variety of projects that attempt to reduce the carbon footprint of their operations, such as the 2019 Tanami Power Project, which included the installation of two power stations, a 66 kW interconnected power line and a 275-mile natural gas pipeline. The project lowered power costs and carbon emissions associated with the northern Australia mine by around 20%.
Additionally, Newmont’s Africa region is currently negotiating a PPA for 13 MW of solar power and the Peñasquito operation in Mexico is evaluating a large-scale (greater than 100 MW) solar deployment.
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