Alamos Gold to Reduce GHG Emissions by 30 Percent

As different industries are moving toward more sustainable practices, the mining industry is adopting new technologies to reduce its impact on the environment. Recently, Alamos Gold announced its intention to reduce its Greenhouse Gas (GHG) emissions by 30 percent before 2030. 

As part of this model, Alamos Gold reported that it developed an Energy and Greenhouse Management Standard, which included the completion of an Energy and Carbon Management System assessments at its operating sites, which will help in the development of its existing Energy Management programs.

According to the company, 30 GHG emission reduction opportunities were identified across the organization. Alamos is prioritizing those that would reduce the highest amount of emissions. Among the options identified were a switch renewable energy and cleaner grid capacity, the use of hybrid or electric vehicles and conversion to cleaner fuels like bio-diesel. In Mexico, the company is working to connect the Mulatos mine to the grid to offset diesel-based power production. In addition, Alamos is studying the possibility to replace propane with compressed natural gas (CNG) as fuel for the mine’s underground air heaters. 

The company expects these actions to contribute to Canada’s commitments to the Paris Agreement and the World Gold Council, which urges its members to adopt the recommendations of the Task Force on Climate-Related Financial Disclosure, as well as reduce 30 percent of global emissions and lower emissions intensity by 55 percent. The company is already a leader in emission density since it produces an average of 0.38t of CO2 per ounce of gold, while the industry’s average is 0.67t.  

In 2020, the Mexican Mining Chamber (CAMIMEX) reported that the national mining industry reduced its CO2 emissions by 19 percent and sourced 31 percent of its energy from clean sources like wind, solar and hydropower. According to Pedro Galdi, Equity Analyst, Mirae Asset Wealth Management, investors are more interested in companies that carry out their activities with an ESG focus, Therefore, companies must heighten their efforts to adopt stricter sustainable practices.