Barrick Gold Sees ‘Perfect Storm’ Brewing Around Cost-Effective Renewables
Renewable energy sources have reached the stage, where they can reduce energy costs as well as emissions, Barrick Gold’s Senior Manager of Energy and GHG, Russell Blades, tells Energy and Mines.
“We are seeing a ‘perfect storm’ brewing around renewables. Solar and energy storage are improving in efficiencies and reducing in costs. Renewables are already cost-effective in many areas compared to traditional fossil fuel power options,” Blades says. “In terms of further reducing our energy costs and emissions, we see that renewables have an important role to play alongside our energy management and fuel switching initiatives.”
Moreover, with governments, investors and stakeholders more focused on carbon emissions, pricing and climate change, mines are moving more towards electrification and automation. “Barrick recognizes this global trend and is trying to get ahead of the curve to be a market leader to benefit our shareholders and other stakeholders,” Blades notes.
The gold mining leader sees the benefits of power price stability that renewables offer, along with a host of other key attributes. “Although price stability is a major driver, we equally see the benefits of lower energy prices, reduced emissions and improved sustainability,” Blades says.
Russell Blades will be giving a keynote presentation on ‘Understanding How Renewables Fits with Mining’s Strategies Today’ at the Energy and Mines World Congress in Toronto this November 21-22.
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