anglo american to power its south american mines on 100% renewables

anglo american to power its south american mines on 100% renewables

The announcement delivers on the London-headquartered multinational miners commitment two years ago to meet all of the electricity needs from its operations in the region through clean energy sources.

Having already secured renewable energy for its iron ore and nickel operations in Brazil from 2022, and for its copper operations in Chile from 2021, the company has now signed an agreement with Engie Energia Peru to provide 100% renewable energy for the Quellaveco copper operation in Peru that is expected to begin productions next year.

Tom McCulley, CEO of Anglo American in Peru, said: Copper has such an important role to play in enabling the global transition to a low-carbon economy, so it is important for Anglo Americans new world-class copper mine in Peru Quellaveco to lead the way by minimising its own carbon and broader environmental footprint.

The combination of renewable energy and our FutureSmart Miningprogrammes higher precision technologies which target the required metals and minerals more precisely, with reduced water, energy and capital intensity, is changing the very nature of mining and how our stakeholders experience our business for the better.

Anglos agreement with Engie Energia Peru will provide a combination of wind and hydroelectric power to meet all the electricity needs of the Quellaveco copper operation, delivering a 70% CO2 emissions reduction from the companys Peruvian mines.

Quellaveco, which is one of the worlds largest undeveloped copper deposits, is located in the Moquegua region in the south of Peru. It is expected to add an estimated 300,000 tonnes per year of copper equivalent production to the firms current annual output of more than 640,000 tonnes of the mineral.

Anglos other renewables agreements in South America include deals signed in 2019 with Casa dos Ventos and AES Tiete to provide wind power and with Atlas Renewable Energy to provide solar power to meet all the electricity needs of its iron ore and nickel operations in Brazil. As a result, the company expects its CO2 emissions in the country to be reduced by about 70%.

The miner also secured a deal in 2019 with Enel Generacion Chile to provide renewable power through a mix of wind, solar and hydroelectric power to meet all the electricity needs of its copper operations in Chile, which is set to deliver a 70% CO2 reduction from its operations in the country.

Anik Michaud, group director of corporate relations and sustainable impact at Anglo American, said: It is our duty to produce the metals and minerals that society needs as responsibly as current technologies allow, while continuing to stretch ourselves and our business partners to improve our performance even further.

Our sourcing of only renewable energy to power our operations across South America marks another step towards our 2030 greenhouse gas emissions reduction target of 30% that is embedded in our Sustainable Mining Plan and towards our commitment to be carbon neutral across our global operational footprint by 2040.

mining

mining

We are the world's largest producer of iron ore and nickel, and we also operate in other mineral areas. With investments in technology and logistics, we guarantee the efficiency, growth, and sustainability of our operations.

We are the world's largest producer of iron ore and nickel, and we also operate in other mineral areas. With investments in technology and logistics, we guarantee the efficiency, growth, and sustainability of our operations.

Iron ore, an essential raw material for the manufacture of steel, is found in nature in rocks mixed with other elements. Through several cutting-edge industrial processes, the ore is processed to be sold to the steel industries. The iron ore produced by Vale can be found in the construction of houses, manufacture of cars, and production of household appliances.

Hard and malleable, nickel resists corrosion and maintains its physical and mechanical properties even under extreme temperatures. The high-grade nickel produced by Vale is greatly sought after for electroplating and battery applications.

Manganese, the fourth most used metal in the world, is an element of the composition of several items used in our daily lives, such as batteries, pots, and paint. The mineral is also essential for the manufacture of steel and ferroalloys, which are combinations of iron with one or more chemical elements.

Metallurgical coal is used in the manufacture of steel and is the focus of our operations and projects. And thermal coal, also produced by our operations, is used to generate heat and energy in thermal power plants.

Copper is one of the most important metals for the modern industry and, therefore, one of the businesses in which Vale operates. Its thermal energy conductive property surpasses that of any other commercially exploited metal. Malleable, recyclable, and resistant to corrosion and high temperatures, copper is used in the generation and transmission of energy, in wiring and almost all electronic equipment such as TVs and mobile phones.

bhp billiton: soaring iron ore prices to bolster financial performance

bhp billiton: soaring iron ore prices to bolster financial performance

Fitch Solutions / Mining / Global / Mon 10 May, 2021

BHP Billiton (BHP) is the world's largest mining company, with a diversified portfolio including copper, diamond, iron ore and coal production, and substantial interests in oil, gas, liquefied natural gas and diamonds. It distinguishes itself from its competitors by the combination of the quality of its assets; deep inventory of growth projects; customer-focused marketing; diversification across countries, commodities and markets; and its petroleum business. The company is committedto be a significant producer across the energy and metals complex.

BHP's mineralexploration expenditure for the nine months to March 2021 was USD126 million, of which USD83 million was expensed. Greenfield minerals exploration is predominantly focused on advancing copper targets within Chile, Ecuador, Mexico, Peru, Canada, Australia and the south-west United States. Drilling for copper targets is underway in the United States, Ecuador, and Chile. Further drilling is anticipated for copper in Peru and for nickel in Australia during the 2021 calendar year. At Oak Dam in South Australia, next stage resource definition drilling to inform future design is expected to commence around the middle of the 2021 calendar year.

BHP's performance will remain fairly positive in the coming years due to a diversified portfolio of large, long-life and low-cost assets across various commodities and geographies.In FY2020, more than halfof the company's EBITDAwas sourced from Australia, which ranks favourably in our Mining Risk/Reward index at 1st in Asia and 3rd globally.Currently the company is exploring for copper resources in Chile, Peru, Canada, South Australia and southwestern United States, all with low risk profiles barring moderately risky Peru.

We believe BHP'stight rein on capital and relentless focus on brownfield assets is a boon to the miner's growth prospects.The company will spend ongreenfield exploration of copper and petroleum, but expenditure on this will decrease. This will aidin debt reduction, which declined from USD16.3bn in FY2017 to USD12.0bn in FY2020. Going forward, the miner aims to continue maximising cash flow, reducing debt, and maintaining a tight rein on capex.

BHP'sfurther focus on investing in technology to enhance productivity and capital efficiency will benefit the company in the long term.In June 2018, BHPconfirmed the development of the South Flank iron ore deposit, which will be the firm's first mega open-cut mine that fully embeds cutting edge technology.It will run a fleet of autonomous drills that will be operated from the Perth mining centre and a fleet of 40 autonomous trucks that will have human drivers during the first three years before robots are progressively switched in. The firm's autonomous drills at Yandi and Mining Area C have increased productivity and reduced wear and tear maintenance costs. Its fleet of self-driving trucks at Jimblebar has reduced potential safety incidents involving vehicles, increased truck utilisation and reduced haulage costs by about 20%.BHP's Precision Mining project is exploring opportunities to maximise copper output and extend the life of the Escondida mine in Chile by using sensor technologies on bulk mining equipment to quickly and accurately analyse copper grades.

In FY2019, BHP revised their company purpose to 'bring people and resources together to build a better world' and added social value as one of the company's five priorities.In July 2019, the company announced a five-year USD400mn Climate Investment Program to find the best technologies, investments and solutions to reduce greenhouse gas emissions across the value chain.

Note: EBITDA figures are for FY2017, excluding EBITDA originating from operations in Trinidad & Tobago and Algeria. Risk scores out of 100, higher score = more attractive market. Source: Company Report, Fitch Solutions Mining Risk/Reward Index

This report from Fitch Solutions Country Risk & Industry Research is a product of Fitch Solutions Group Ltd, UK Company registration number 08789939 ('FSG'). FSG is an affiliate of Fitch Ratings Inc. ('Fitch Ratings'). FSG is solely responsible for the content of this report, without any input from Fitch Ratings. Copyright 2020 Fitch Solutions Group Limited. Fitch Solutions Group Limited All rights reserved. 30 North Colonnade, London E14 5GN, UK.

iron ore under pressure - mining journal

iron ore under pressure - mining journal

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