The smelting stage of gold production accounts for a 40.1 percent share of the total greenhouse gas emissions produced throughout the gold mining process. Read more
Gold is rare and, as with other precious metals, a lot of ore is mined and processed to produce small amounts of pure metal. The gold production process therefore uses a relatively high level of energy to bring finished gold to market and has a higher greenhouse GHG emissions intensity per tonne of finished product than many other bulk metals. But the relatively small volumes of gold
In addition, regional variations have been found to affect the emissions of different mines. For instance, gold mines in Australia have a relatively higher intensity of greenhouse gases, thus emitting more greenhouse gases, which is roughly the same with gold mines in Russia. Mines in Russia give rise to considerably more free cash flow for
While underground mines do generate more free cash flow than open pits around 422/oz versus 375/oz the scale is far greater on a greenhouse gas emissions level given the comparative
Gold also has a higher greenhouse emission intensity per ton of product compared to other bulk metals. But the relatively small volumes of gold produced each year mean total emissions from newlymined gold are significantly lower than from other major products sourced primarily from mining, such as steel, aluminium and coal.
Australia has a globally significant gold mining sector for which both greenhouse gas GHG emissions data and production cost data are often available on an individual mine basis. Establishing relationships between GHG emissions and production costs has the potential to shape the future of the gold industry in Australia through greater focus
The study is titled quotGreenhouse gas emissions and production cost footprints in Australian gold mines.quot It is the first to investigate whether relationships exist between greenhouse gas emissions and energy consumption with reported costs of production, allin sustaining costs, the source of the gold mined open pit, underground or both
article Brown2020AccountingFG, title Accounting for Greenhouse Gas Emissions from Forest Edge Degradation: Gold Mining in Guyana as a Case Study , author S. Brown and Abu R. J. Mahmood and K. Goslee and T. Pearson and Hansrajie Sukhdeo and D. N. Donoghue and Pete Watt , journal Forests , year
OceanaGold has a solid understanding of its current carbon emission and is a low greenhouse gas GHG emitter compared to the global gold mining average. Michael Holmes, President and Chief Executive Officer at OceanaGold said the company had been deeply committed to responsible mining for 30 years and was proud to be taking action to manage
Macraes, a journey to a lowemissions gold mine At the Macraes mine on the South Island of New Zealand, OceanaGold has already started scoping what a possible net zero carbon mine looks like.