Global gold miner AngloGold Ashanti is aiming to secure over $1 billion to achieve a 30 per cent reduction to carbon emissions by 2030, a decision expected to reduce its total emissions by up to one million tonnes.
The capital cost required to achieve the reductions for the coming eight years is anticipated to be about $1.1 billion, of which $350 million will be funded by AngloGold Ashanti.
The remaining $750 million will be raised through third-party funding, including providers of renewable energy infrastructure.
AngloGold Ashanti’s Chief Executive Officer, Alberto Calderon, said the new commitment paved a clear pathway toward decarbonisation.
“We have a clear pathway to achieve our target by 2030, when we expect to have lowered our overall emissions by almost a third,” Mr Calderon said.
“This ensures we continue to do our part in reducing our carbon footprint, while also improving the value of our business.”
The company plans in the coming weeks to initiate a process to secure a green funding facility of $250 million to $300 million to finance its portion of these decarbonisation initiatives across its business.
The targeted reductions, announced Wednesday 12 October, incorporate initiatives at each Business Unit including the introduction of renewable energy, cleaner grid power and partial fleet electrification.
Approximately 60 per cent of the planned emissions reductions will come from large renewable energy projects including wind and solar projects at the company’s Australian operations and solar-power plants at both Siguiri in Guinea and the Iduapriem and Obuasi operations in Ghana.
In addition, a pre-feasibility study has commenced at the Cuiaba mine in Brazil to confirm the benefits of replacing some mobile fleet with Battery Electric Vehicles.
