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Mining and Decarbonization
26th August 2022 • Borates Today • Brendan McMahon
00:00:00 00:06:11

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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.

Transcripts

Brendan:

Welcome back to the Borates Today podcast.

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

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We cover the latest industry news.

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Who are the key players in the sector?

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

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

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new boron applications and benefits?

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

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and in providing nutrition.

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

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on our website borates.today.

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

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

Brendan:

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

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

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

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in a wide range of other sectors.

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Reducing emissions from mining is essential if we are to

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meet our climate change goals.

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How Mining Can Help Achieve Net Zero Emissions

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

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

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

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for them increases in the coming years.

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

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

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steel, silicon, boron and others.

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These raw materials are critical components in various

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applications from renewable energy production to electric vehicles.

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

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have already been developed.

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

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far more than currently available.

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For example, analysts estimate that between 2020 and 2030 demand

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for nickel could rise by 40%.

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

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

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Until mining capacity increases and appropriate mining methods

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for, for lowering carbon emissions.

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

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

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

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

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

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

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

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Let's Look at Mining Strategies for Decarbonization.

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

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

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

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and to help achieve global climate goals.

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One such strategy is to switch to cleaner energy sources.

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

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power or using less energy intensive methods for extracting minerals.

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For example, some mines are now using electric vehicles

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

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Another strategy is to focus on reclamation and rehabilitation efforts.

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This means ensuring that a mine is properly cleaned up

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and restored after it's closed.

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This can help reduce the impact of mining on local ecosystems

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and prevent greenhouse gases from being released into the atmosphere.

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

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carbon reduction projects elsewhere.

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For example, this could involve planting trees or investing

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in clean energy technologies.

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

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the fight against climate change.

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

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

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

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

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In response, many companies are now setting ambitious

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goals for decarbonization.

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

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

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

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

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more efficient and sustainable, and working on electrification

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and food security solutions.

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

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green energy, and a greener planet.

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

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California and is targeting to unlock substantial value

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through extraction of boric acid.

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

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

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meet the decarbonization goals.

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

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FEAM also practices sustainable mining techniques to help improve

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

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For more information on decarbonization and the mining industry, please

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refer to the Borates Today website.

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And that's all for today.