Ivanhoe Mines Pledges Net-Zero for Kamoa-Kakula Copper Mine
Canadian mining giant Ivanhoe Mines has pledged to make its flagship Kamoa-Kakula copper mine net-zero, a move that has been welcomed by investors. The company's stock price surged by over three percent on the announcement day, adding to its 30 percent rise this year.
Ivanhoe's commitment comes as electric mobility drives demand for minerals like copper, nickel, and lithium, used in batteries and solar cells. However, mining these raw materials often raises sustainability concerns. The company aims to address this by reducing operational greenhouse gas emissions at the Kamoa-Kakula mine to zero.
The mine, which began production in May 2021, is expected to produce up to 95,000 tonnes of copper this year. By working with its joint venture partners, Ivanhoe hopes to become the first net-zero emitter among the world's largest copper producers, aligning with the 2015 Paris Agreement. The company has set goals to advance climate protection and sustainability through responsible mining practices, cleaner technologies, and site rehabilitation.
Ivanhoe Mines' net-zero pledge is a significant step towards sustainable mining. By focusing on cleaner technologies and responsible practices, the company is not only addressing environmental concerns but also driving its stock price upwards. This approach supports the transition of mining companies towards more climate-friendly production, making it a more effective strategy than exclusion.
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