The mining industry needs to commit to an intensified pursuit of decarbonisation goals amid the rate of decarbonisation being too slow to meet science-based targets, consulting services firm dss+ points out ahead of the February 3 to 6 Investing in African Mining Indaba, where it is a knowledge partner.

Mining accounts for 4% to 7% of direct global greenhouse gas emissions. When Scope 3 downstream emissions are included, this rises to 28%, or 19 440 megatons of carbon dioxide equivalent, and little is changing.

The research shows that roughly the same amount of greenhouse gas being emitted per tonne of mineral output every year, which holds especially true for deep mines that are experiencing ore-grade reduction and increasing demand for ventilation and cooling services.

Analysis of 52 mining companies found the average annual rate of emission reduction between 2018 and 2021 to be approximately 2%, resulting in a 40% distance from 2030 targets.

The current decarbonisation rate aligns to a future of more than 2°C of warming, way above the 1.5 °C future set out by the Paris Agreement and associated science-based targets, dss+ principal Gerhard Bolt points out in a release to Mining Weekly.

To achieve the required curtailment, the decarbonisation rate must increase to 4.5% a year across mining and be extended to include Scope 3 emissions.

Bolt described the mining industry as being faced with the paradox of having to reduce emissions to align with decarbonisation goals and improve their environmental, social, and governance performance, but also having to ramp up production to meet the demand for energy transitions minerals, which will require more energy and produce more absolute greenhouse gas emissions in the process.

"This creates a situation where the current rate of decarbonisation is too slow to meet targets - an issue that is increasingly seen as problematic by the investors needed to fund the exploration and expansion of mining operations," says Bolt.

Although many mining companies have committed to decarbonising their operations, interviews with mining executives across commodities and geographies reveal that several barriers still exist, ranging from reporting difficulties to implementation barriers.

The step change required can only be achieved if leadership adopts a value-based approach to decarbonisation - recognising the value of reducing emissions, creating the appropriate cultural context, building the right organisational and individual capabilities, and developing enabling structures and processes.

Specifically, dss+ recommends that mining companies must adopt internal carbon pricing consistent with net-zero targets, create a cultural context conducive to transformation, take on new data collection and monitoring frameworks, focus on quick wins while taking a long-term view, improve coordination of decarbonisation planning between sites, co-create conducive policy and financing frameworks, and demonstrate progress.

"Ultimately, there are clear, proven strategies that can help miners to overcome barriers and accelerate their decarbonisation journeys in the short-term," he adds.

Underpinning this is the requirement for a mindset shift within the industry, with leaders recognising the value of reducing emissions, creating the appropriate cultural context, building the right capabilities, and developing enabling processes.

"Doing so can drive significant reductions that are sustainable in the long-term, and thereby support more positive outcomes for all stakeholders."

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