https://business.financialpost.com/
The industry is repositioning itself as an asset investors would be eager to add to their portfolio to lower the overall emissions of their investments
This September, Newmont Goldcorp summoned a host of local and provincial dignitaries to Chapleau, Ontario, where it christened its Borden gold project, ‘the mine of the future.’
In an industry where a 40-ton diesel truck is considered modest-sized, the company wanted to build Borden into Canada’s first all-electric underground gold mine, a plan that has taken years — since the company was called Goldcorp — and cost hundreds of millions of dollars as executives criss-crossed the world in search of things like an electric haul truck.
“We call it our $300-million pilot project,” Brent Bergeron told the Financial Post in 2018, who at the time headed up Goldcorp’s Corporate Affairs and Sustainability.
The mine is expected to finally begin commercial production in the fourth quarter of this year. Now, the World Gold Council is laying out a plan for the rest of the sector to follow in the company’s footsteps, and to collectively cut its emissions to ‘net zero’ by 2050.
A report released on Wednesday suggests that doing so could help transform gold into a “climate risk mitigation asset,” in other words something that investors seek out in part because it lowers the overall emissions profile of their portfolio.
For the rest of this article: https://business.financialpost.com/commodities/mining/safe-haven-gold-aims-to-reinvent-itself-as-a-climate-risk-mitigation-asset-with-net-zero-emissions