BELLEVUE GOLD RAISES THE BAR
“Bellevue Gold has set our intent of net zero emissions by 2026. The 2030 and 2050 targets are irrelevant to us. Companies setting net zero targets by 2050 is welcomed, but this is not overly ambitious as this is merely complying with Government targets for net zero by 2050” – Darren Stralow, Bellevue CEO. Image: Shutterstock
Ambitious gold mine sets net zero target of 2026
A new gold mine is poised to set new standards for decarbonizing operations in a singularly aggressive timeframe. Darren Stralow, CEO of Bellevue Gold, tells Energy and Mines in an interview that his company has set a goal of net zero greenhouse gas emissions for its Bellevue Gold Project in Western Australia by 2026. Four years from now. According to the New York Times, many US-based companies have set similar goals, but with timelines as far out as 2040 – 18 years away.
Per E&M, Bellevue plans to achieve this with a “world-class” off-grid power station capable of an annual renewable energy penetration of ~80%. The installation will include wind, solar, and batteries, along with thermal backup from gas and/or diesel. Given their self-imposed net zero targets, all GHG emissions will be accounted for by 2026 with a further combination of increased renewable energy, alternate fuels, and/or carbon offsets.
Aggressive goals
What is the thinking behind such an aggressive approach? Says Stralow, “if Bellevue Gold would have used a 100% gas-fired power station then 73% of the mine’s emissions would come from the power station (alone).” This makes decarbonizing the mine’s power generation a good place to start – by implementing high renewable energy capacity and decreasing use of gas or diesel. A new mine with a long mine life will allow for adding still more renewable energy over time, further lowering energy costs and decreasing exposure to volatile diesel prices.
Competitive advantage
But there’s more. By fulfilling its net zero goals, Bellevue will not only lower costs and increase energy security. Stralow says it will also help attract talent.
“People want to work at companies that do good, and in a competitive job market potential employees are seeking sustainability credentials … We believe we can attract the best talent to build and operate this new gold mine – in part due to our credentials in sustainability and renewable energy.”
Investor appeal
In its investor relations materials, Bellevue is forecasting the least emissions per ounce of any gold mine in Australia. “This is a clear competitive advantage,” says Stralow, “and we hope to set industry benchmarks on the use of renewable energy and the ability to decarbonise mines.”
“Bellevue Gold will be producing gold,” he continues, “along with royalties, economic opportunities, and benefits for communities – but there will be net zero emissions by 2026 and this is truly profound.”
Why wait?
Says Stralow, “Bellevue Gold has set our intent of net zero emissions by 2026. The 2030 and 2050 targets are irrelevant to us. Companies setting net zero targets by 2050 is welcomed, but this is not overly ambitious as this is merely complying with Government targets for net zero by 2050. Additionally, most mines do not have a mine life which extends to 2050 … Here at Bellevue Gold, we are embracing the full intent of the Paris Agreement and aiming for net zero by 2026.”
Read the full Energy and Mines interview with Darren Stralow here.
WILL THE GLOBAL ENERGY CRISIS HASTEN THE DEMISE OF DIESEL?
“Our move to clean energy globally could be the greatest peace plan of all.” – US Energy Secretary Jennifer Granholm speaking at a recent global energy forum in Sydney, Australia. Image: Grist
A global squeeze on an energy supply that’s triggered crippling shortages and sent power and fuel prices surging may get worse, according to the head of the International Energy Agency as quoted by Mining.com.
This does not bode well for mining operations that are currently dependent on diesel and that lack a plan to transition to renewables.
Per Mining.com, Birol says the whole energy system is in turmoil following the February invasion of Ukraine by Russia, at the time the biggest oil and natural gas exporter and a major player in commodities. Birol continues: “Like the oil crises of the 1970s, which prompted huge gains in fuel efficiency and a boom in nuclear power, the world may see faster adoption of government policies that speed the transition to cleaner energy.”
Speaking at the same conference, US Energy Secretary Jennifer Granholm said that the fallout for the global energy sector as the US and allies challenge President Vladimir Putin over the war in Ukraine and seek alternatives to Russian exports has highlighted the need to reduce dependence on fossil fuels. “Our move to clean energy globally could be the greatest peace plan of all,” she said.
Read more here.
FIRST PROJECT FROM WESTERN AUSTRALIA’S CLEAN ENERGY FUTURE FUND GOES LIVE
Australian Mining reports that Nomadic Energy’s five-megawatt solar installation at Northern Star’s Carusoe Dam gold mine in Western Australia is complete, generating clean energy and reducing emissions by displacing diesel and natural gas use.
The project was a recipient of $1 million in the first round of the State Government’s Clean Energy Future Fund, which supports innovative clean energy projects and technologies that reduce greenhouse gas emissions.
Learn more about the Clean Energy Future Fund here.
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