The move from traditional energy sources to more diverse energy platforms that are green, reusable and have a measurably reduced environmental impact can potentially see an increase in demand for the specific resources and minerals required to develop these solutions.
This is an added benefit to a sector that itself is currently undergoing an extensive and meaningful energy transition.
This shift in focus towards alternative and renewable fuel solutions has the backing of some of the world’s leaders in mining, many having committed to net-zero emissions by 2050. These companies include BHP Group, Rio Tinto Group, Vale SA, Glencore PLC and Freeport-McMoRan Inc, among many others. Their goal is to offset their scope 1 and scope 2 greenhouse gases by the deadline.
Rigid with tradition
According to S&P Global Market Intelligence, an impressive 21 of the 30 largest mining and metals companies have put net-zero on their agenda. The upside of the cost is balanced by a growing interest from green investors and funds that want their money to go where the planet is.
All these factors have combined to take green conversations from the boardroom to the coal face, shifting an industry once rigid with tradition to become one that’s cutting the edges of innovation and transformation. As mentioned, many companies have embraced the energy transformation and are actively approaching energy suppliers in search of solutions that are big, creative and, of course, green.
Power technology is being adopted at speed, and across a broad range of applications and facilities and the mining sector is becoming truly innovative in its approaches and strategies. Particularly now, as renewables are becoming more affordable and diverse in their applications and scale.
Aggreko has created one of the world’s largest hybridised solar energy micro-grids to power a mine in Western Australia, for example, and has also used incredibly efficient gas engines to create virtual gas pipelines to reduce reliance on diesel.
This type of renewable energy micro-grid has become a trusted and cost-effective approach to energy provision for the sector, especially where the life of mine contracts are longer and come with base-load power requirements. They are also invaluable to mines that are located in areas too remote for the utility power supply or where companies are looking to take greener control over their power sources.
Aggreko has its own goal to achieve net-zero across the fleet and for customers by 2050 and to reduce the amount of diesel used in customer solutions by at least 50% by 2030. This is the time to walk the environment talk and transition to cleaner power without compromising on reliability or growth.