Lundin Gold Inc. (LUGDF) has recently made significant strides in its commitment to sustainability by publishing its second Climate Change Report, setting an ambitious target to become carbon neutral by 2030, and releasing its seventh annual Sustainability Report. With its low greenhouse gas (GHG) emissions intensity and dedication to responsible mining practices, Lundin Gold aims to position itself as one of the world's leading environmentally conscious gold producers.
Greenhouse Gas Emissions Intensity:
Lundin Gold reported an impressive GHG emissions intensity of 0.06 tCO2e (tonnes of carbon dioxide equivalent) per ounce of gold produced in 2022 at its Fruta del Norte gold mine in Ecuador. This places the mine among the industry's lowest emissions intensity levels. By comparison, the average GHG emissions intensity for reporting underground gold mines in 2021 was 0.42 tCO2e per ounce of gold produced. This achievement reflects the company's commitment to reducing its environmental impact.
Carbon Neutrality Goal by 2030:
As part of its dedication to combating climate change, Lundin Gold has set a target to achieve carbon neutrality by 2030 for its Scopes 1 and 2 emissions, based on its current life of mine plan. The company's commitment to this goal is reinforced by a comprehensive analysis of its emissions and the identification of direct decarbonization opportunities. Lundin Gold has outlined an initial roadmap to carbon neutrality in its recently published Climate Change Report, demonstrating its proactive approach towards mitigating climate-related risks.
Scope 3 GHG Emissions:
Lundin Gold has also made improvements in estimating and reporting its Scope 3 GHG emissions. The company's Climate Change Report now provides a more detailed and expanded overview of these emissions, reflecting its commitment to transparency and accountability in addressing the entire carbon footprint associated with its operations.
Sustainability Report Highlights:
In addition to its climate-related initiatives, Lundin Gold's 2022 Sustainability Report highlights several achievements and progress made by the company in various areas. These include:
1. Industry-leading health and safety performance, with a total recordable incident rate of 0.30 per 200,000 hours of work.
2. Certification as a Great Place to Work, affirming the company's commitment to maintaining a positive work environment.
3. Significant improvement in water management, with 95% of water at the Fruta del Norte mine being reused and/or recycled.
4. Strong support for local communities through $37 million of procurement expenditures in the mine's immediate area of influence in 2022, representing 14% of total procurement spend.
5. Continued success of the education support program, resulting in 260 local students being enrolled in higher education since 2015.
Conclusion:
Lundin Gold's recent announcements underscore its commitment to sustainable mining practices and environmental stewardship. With its industry-leading GHG emissions intensity and its pledge to achieve carbon neutrality by 2030, the company is positioning itself as a frontrunner in the gold mining industry's transition to a low-carbon future. Through its sustainability initiatives, Lundin Gold strives to deliver value to its shareholders, while also benefiting local communities, fostering a safe workplace, and minimizing its environmental footprint. As the company continues to prioritize responsible mining practices, it sets an example for the industry and contributes to the global efforts in combating climate change.