Decarbonizing the Mining Industry: Assessing Trends, Technologies, Challenges and Case Studies
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Due to the significant volume of emissions from the mining sector, growing ESG (Environmental, Social, and Governance) concerns, and the rising demand for essential raw materials required for the energy transition, decarbonizing mining has become crucial for global climate mitigation and achieving net-zero goals.
This report assesses the suitability of energy transition technologies such as electrification, alternative fuels, renewable energy, hydrogen, and CCUS, all of which hold significant decarbonization potential for mining. Additionally, this report also presents an overview of emissions performance, as well as both interim and long-term climate and net-zero targets from a selection of mining companies.
Technologies that can help the industry achieve decarbonization will become commercially viable at different times, influenced by varying levels of technological maturity and market demand. Many energy transition technologies are still emerging and remain expensive. Even when technology costs decrease, scaling up production and developing the necessary infrastructure for industry-wide decarbonization requires significant investment.
Electrification remains the ultimate goal for the industry because it not only supports sustainability efforts but also helps reduce operational costs. However, numerous challenges hinder its commercial viability in the short term. Consequently, many mining companies are exploring more established interim solutions, such as trolley-assist systems and alternative fuels, to meet their short-term emissions targets.
Scope
Overview of where emissions come from across the mining value chain
Net-zero target for selected mining companies
Mining companies’ analysis of interim and long-term emission targets
Mining companies’ Scope 1, 2, and 3 emissions data
Analysis of different decarbonization technologies (renewable energy, alternative fuels, electrification, hydrogen, CCUS), including timeline for commercial viability and suitability assessment
Macroeconomic challenges facing decarbonizing the mining industry
Case studies of decarbonization technologies being trialled or implemented
Analysis on how repurposing mines can aid the energy transition
Key Highlights
In most cases, miners are targeting 2050 as the year to achieve net-zero operational emissions, with a proportion also aiming for net-zero Scope 3 emissions by 2050.
Most major mining companies have set themselves interim emissions targets. A standard benchmark is a 30% reduction in Scope 1 and 2 emissions by 2030, however, Fortescue has set the ambitious target of ‘real’ net-zero by 2030.
There has been a notable increase in the number of PPAs signed by mining companies as they are a key vehicle for scaling renewable electricity consumption, particularly within on-grid mines, providing vital stability through long-term, fixed-price contracts.
Technologies that can help the industry achieve decarbonization will become commercially viable at different times, influenced by varying levels of technological maturity and market demand.
However, electrification remains the ultimate goal for the industry because it not only supports sustainability efforts but also helps reduce operational costs. However, numerous challenges hinder its commercial viability in the short term. Consequently, many mining companies are exploring more established interim solutions, such as trolley-assist systems and alternative fuels, to meet their short-term emissions targets.
Reasons to Buy
Identify the market trends within the industry and assess what the biggest players in mining are doing to reduce emissions.
Develop market insight of the major technologies used to decarbonize the industry, including timelines for their respective commerical viability, and the drivers and barriers to their implementation.
Facilitate the understanding of what is happening within hard to abate industries as they look to becoming carbon neutral by 2050.
AngloAmerican
Sibanye Stillwater
Harmony
Barrick
Glencore
Agnico Eagle
Ma'aden
South32
Newmont
Freeport-McMoran
BHP
Boliden
Rio Tinto
Teck
Antofagasta
Lundin Mining
GrupoMexico
Vale
Coal India
Norilsk Nickel
First Quantum
Zijin Mining
Engie Energia Chile
Solidcore Resources
Collgar Wind Farm
African Clean Energy Developments
African Infrastructure Investment Managers
Reatile Renewables
Windlab
European Energy
ZESCO
Edify Energy
BMA
CleanCo
Sasol
De Beers
Komatsu
Cummins
Shandong Gold
China Datang
Jinchuan
China General Nuclear Power
Winning International
China National Nuclear
China Materials
Luossavaara-Kiirunavaara
Exxar
ARMZ Uranium
Shandong Honghe Bali
Hitachi
Caterpillar
Yutong
Tonly
XCMG
Sany
Sandvik
Epiroc
Liebherr
Atlas Copco
ARMZ Mining/Aramine
RDH
PIMCU
Artisan
Zibo God Rock
MTI
JCHX
ABB
Sumitomo
China State Power Investment Corporation
CRRC Qishuyan
Orica
Fertiberia
Arca
RWE
Peabody
R3 Renewables
Mine Storage
Bluejay Mining
Table of Contents
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