CSA Global Principal Geologist, Sam Ulrich presented recently on ‘Sustainable Gold Mining – The Impact of GHG Emissions’ at the RIU Resurgence Conference 2020 held between 15-16 September, 2020 at the Hyatt Regency in Perth, Western Australia.
ABSTRACT
Good sustainable environmental, social and governance (ESG) practices are at the core of a gold miner’s licence to operate. To be economically viable is to not only be profitable but also operate environmentally and socially responsible. Climate risks are financial risks, with greenhouse gas (GHG) emissions and water scarcity the two primary climate risks. External stakeholders, institutional funds and lenders are seeking increased disclosure and mitigation of climate risks. A competitive advantage exists in GHG emissions intensities per unit of gold between and within countries due to gold mines primary energy sources. The cost impact of a hypothetical carbon price varies markedly between countries. Gold companies that reduce their carbon footprint benefit with a lower cost of equity and debt capital. Australian gold mines exhibit declining gold grades that are predicted to continue over the coming decade. These projected lower gold grades would lead to higher GHG emissions intensities in the absence of other GHG abatement interventions.
About the Presenter
Sam Ulrich
Principal Geologist
Sam, has 25 years of experience working as an exploration, resource development, and corporate geologist in Australia and Asia. He is currently a Principal Geologist with CSA Global and ERM Group company in their corporate team, primarily undertaking due diligence and mineral asset valuations. He is also undertaking PhD at the University of Western Australia, presently titled “Insights into the Economic Cost Structure of Gold Mining: From All-in Sustaining Costs to Quantifying Externalities.