In this article, Sabine Anderson, Principal Mining Engineer at SRK Consulting UK, delves into the transformative landscape of the mining industry. She discusses the critical shift from ESG risk mitigation to value creation. Traditionally, mining projects were evaluated based on indicators like NPV (Net Present Value), IRR (Internal Rate of Return), payback periods, and drawdowns. However, Anderson highlights a paradigm shift: mutual prosperity for all stakeholders.
Companies now actively integrate ESG principles into their core strategies, recognizing that sustainable practices yield long-term benefits. Transparency is key, with commitments to ESG goals prominently displayed. Anderson emphasizes the need for early-stage ESG integration in mineral projects, aligning with relevant standards. Carbon reduction plans are no longer optional; they are essential components of responsible mining.
Mining companies are innovating to integrate ESG principles, enhancing value through optimized mine plans that reduce carbon emissions. SRK Consulting focuses on minimizing key emission sources, collaborating with EU clients for eco-friendly project designs. The adoption of electric mining equipment is growing. SRK remains committed to engineering solutions, aligning with decarbonization goals, and integrating the latest research. This includes leveraging electric equipment in underground projects and exploring diverse options for carbon reduction in open-pit initiatives. SRK's studies also consider renewable energy and sustainable water practices, and commitments made by the mining companies up till 2050.
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