The world's largest copper miner will cut carbon emissions by 70% by 2030
The world’s largest copper producer, Chile’s national copper company Codelco, outlined its sustainable development plan in the five action areas of its operations and projects, including reducing carbon emissions by 70% and inland water consumption by 60% by 2030 % And recover 65% of industrial waste.
Source: https://www.codelco.com/
The state-owned mining company planned to sell “green copper” at a premium to customers using more sustainable practices such as renewable energy in 2017, and now it is leaning toward a broader initiative.
The plan revolves around five key points and aims to reduce the company's carbon emissions by about three-quarters by creating a "100% clean energy matrix", including the replacement of all underground production equipment, such as electric vehicles and machinery. It also includes participating in the search for new clean energy sources, such as green hydrogen.
Codelco gave all of its profits to the state government, and it also pledged to reduce its water footprint by more than half. This key factor has become the focus of contention between the mining company and several other companies (especially lithium producers) in their expansion plans.
Most mines in Chile are located in the Atacama desert, the driest in the world, where a largely abandoned practice of taking water from salt flats has left the area almost water scarce.
In terms of reducing industrial waste, the company said it will start with 100% recycled tires and increase the recycling of non-hazardous solid industrial residues, such as steel, wood, packaging materials, organic waste and scrap metal.
Codelco's plan also includes the physical and chemical stability of the tailings pond.
Clear goals and deadlines
Codelco said that progress in achieving the above goals will be measured by specific performance indicators and linked to specific business cases involving all business areas.
The company’s CEO, Octavio Araneda, said in a statement: “As a company, we have clear goals and deadlines. We will achieve our goal, which is to strengthen the sustainable development of Chile and the world.”
Analysts said that if this influential copper mining giant’s actions succeed, it may pave the way for the historically highly polluting copper mining industry to establish more important industry-wide sustainability standards.
The San Diego-based mining company pointed out that it will implement a new integration strategy to create social value. Part of this effort includes an increase of 30% in goods and services obtained from local suppliers, which will benefit local labor and strengthen mining education.
Codelco's latest bid was conducted under conditions of increasing pressure on mining companies by governments and environmental organizations.
As more and more scientific evidence shows that emissions are the main driver of climate change, consumers are also demanding products with lower carbon footprints.
