BHP has released the results of a pilot case study that applies natural capital accounting principles in the mining sector. The study focused on the rehabilitation efforts at the Beenup mineral sands mine (pictured) in Western Australia.
Natural capital accounting measures the amount, condition, and value of environmental assets and helps describe changes in ecosystems and their impact on well-being and economies. It is also a framework for environmental accounting that quantifies the quantity, quality, and worth of environmental resources.
The pilot showed that restored ecosystems at Beenup could have an estimated net present value of A$30-40 million, and it is projected that the site’s carbon sequestration potential could yield societal benefits of around A$1 million per year.
Mining operations at Beenup in southern Western Australia were halted in April 1999 because of technical problems in production. Following the cessation of operations, the site underwent closure and rehabilitation, which was mostly concluded by 2018.
BHP reports that the wetlands created as a result of the rehabilitation now provide habitats for four rare flora species.
Source: Mining.Com
Image Source: BHP