Brazillian headquartered miner, Vale SA, announced yesterday that it plans to invest at least $2bn to make good on the commitment to eliminate carbon emissions by 2050. In an interview with Reuters, Chief Executive Eduardo Bartolomeo outlined an interim emissions reduction target of 33% by 2030 indicating the announced funds would be used to reach this goal by deploying biofuels for iron ore production, electrifying mines and railroads, increasing energy efficiency and using more renewable energy.
See Reuters report here. More details of Vale’s new climate aspirations can be found through the two Vale presentations at the 2019 Energy and Mines World Congress.
Decarbonization in Mining and Opportunities for Non-Competitive Collaboration – Luke Mahoney, Vale