In today's podcast, we're going to look at decarbonization opportunities in the mining industry and how mining can help achieve net zero emissions.

The mining sector has a key role in the transition to net zero emissions. Although it currently accounts for less than 7% of global emissions it is one of the most energy-intensive industries and its products are used in a wide range of other sectors.

Reducing emissions from mining is essential if we are to meet our climate change goals.

Welcome back to the Borates Today podcast.

Each week we cover a topic that is relevant to the industry and timely.

We cover the latest industry news.

Who are the key players in the sector?

What are the latest trends, driving demand and supply for boron.

What is the science behind boron and who's doing valuable research into

new boron applications and benefits?

We look at how boron helps in advanced energy, in food security,

and in providing nutrition.

So don't forget to check out boron applications and benefits

on our website borates.today.

In today's podcast, we're going to look at decarbonization opportunities

in the mining industry and how mining can help achieve net zero emissions.

The mining sector has a key role in the transition to net zero emissions.

Although it currently accounts for less than 7% of global emissions it

is one of the most energy intensive industries and its products are used

in a wide range of other sectors.

Reducing emissions from mining is essential if we are to

meet our climate change goals.

How Mining Can Help Achieve Net Zero Emissions

A new report by the Bank of America has warned that a lack of action

on metal supply could hamper the global transition to net zero.

It states that many critical metals are at risk of being in short supply as demand

for them increases in the coming years.

While markets have focused on copper and nickel, the report recognizes 27

metals, including aluminum, chromium, cobalt, molybdenum, manganese,

steel, silicon, boron and others.

These raw materials are critical components in various

applications from renewable energy production to electric vehicles.

As the world looks to achieve net zero goals, many necessary technologies

have already been developed.

However, many minerals and metals will be needed to scale up these technologies,

far more than currently available.

For example, analysts estimate that between 2020 and 2030 demand

for nickel could rise by 40%.

Demand for lithium could also go up by 38% during the same period.

This supply-demand imbalance could hamper efforts to decarbonize the economy.

Until mining capacity increases and appropriate mining methods

for, for lowering carbon emissions.

The bank of America goes on to say that we will need to significantly

increase our investment in mining and raw materials to meet the climate goals.

The present level of metals required to reduce carbon emissions is not sufficient.

According to the analyst's raw material, industry's are already tight and

will tighten even more as demand for reduced carbon technologies develops.

And based on recent resource endowments and industry balances., It's unlikely

that we'll be able to meet the 1.5 degrees centigrade global warming goal by 2050.

Let's Look at Mining Strategies for Decarbonization.

As the world looks to decarbonize to avert the worst effects of

climate change, the mining industry will need to play its part.

There are many different strategies that minds can adopt to reduce their emissions

and to help achieve global climate goals.

One such strategy is to switch to cleaner energy sources.

This could mean investing in renewable energy sources like solar or wind

power or using less energy intensive methods for extracting minerals.

For example, some mines are now using electric vehicles

instead of diesel ones, which can significantly reduce the emissions.

Another strategy is to focus on reclamation and rehabilitation efforts.

This means ensuring that a mine is properly cleaned up

and restored after it's closed.

This can help reduce the impact of mining on local ecosystems

and prevent greenhouse gases from being released into the atmosphere.

Finally, mines can also look to offset their emissions by investing in

carbon reduction projects elsewhere.

For example, this could involve planting trees or investing

in clean energy technologies.

By offsetting their emissions, mines can help make a real difference in

the fight against climate change.

Let's take a look at some mining companies who have set decarbonisation goals.

Historically, being among the largest polluters in the world, mining companies

are responsible for a significant share of global greenhouse gas emissions.

But as public awareness of change has grown so too has pressure.

In response, many companies are now setting ambitious

goals for decarbonization.

One of these is five-year advanced materials, formerly known as

American Pacific Borates, fEAM, as it's also known, plays a leading

role in the de-carbonization agenda through the use of Borates.

The company is actively involved in making energy, transition and storage,

more efficient and sustainable, and working on electrification

and food security solutions.

According to the CEO, these plans and efforts will eventually lead to

green energy, and a greener planet.

FEAM owns Fort Cady, a strategically important mineral asset in Southern

California and is targeting to unlock substantial value

through extraction of boric acid.

Boric acid has many legacy applications, including glassware, fertilizers,

ceramics, and detergents and newer, quicker growing applications, which

meet the decarbonization goals.

Boron is used in neodymium magnets, which power wind turbines.

FEAM also practices sustainable mining techniques to help improve

its relative value and minimize the environmental impacts of mining boron.

For more information on decarbonization and the mining industry, please

refer to the Borates Today website.

And that's all for today.