Newmont optimistic of achieving ‘ambitious’ net zero emissions by 2050

Newmont Corporation, the world’s largest gold producer, has reaffirmed its commitment to achieving net zero emissions by 2050. This bold target highlights the company’s recognition of the environmental challenges faced by the mining industry and its strategic shift towards sustainability.

Newmont’s plan to reach net zero emissions includes a variety of innovative strategies across its mining, processing, and transportation operations. Central to this initiative are carbon offsetting projects that aim to significantly reduce the company’s carbon footprint.

As the world confronts the escalating challenges of climate change, Newmont is stepping up its efforts to align with global climate agreements aimed at curbing global warming. The company acknowledges its significant role in the global economy through gold production, but also recognizes the environmental impact of its operations, particularly greenhouse gas emissions.

Speaking at a media workshop held in Sunyani, Bono Regional capital, David Johnson, the Communications and External Relations Director for Newmont Africa, emphasized the company’s commitment to sustainability. “Whatever emissions that company produces will be offset by other mitigation initiatives we will be putting in place”.

One of Newmont’s key initiatives he indicated is the deployment of the Cat diesel electric R2900 XE hybrid loader at the Subika underground mine in Ahafo South. This advanced technology is a testament to Newmont’s commitment to reducing fossil fuel emissions, he added. “Newmont plans to phase out all nine diesel-powered loaders at its Subika underground mine in Ahafo by 2026.

The company is actively exploring opportunities to incorporate commercially viable renewable energy sources into the mine’s energy mix. This initiative aims to provide affordable energy while also reducing emissions.”

Ahafo North Project

Updating the media practitioners on the Newmont Ahafo North project, Mr. Johnson said the project will fully commence operations in 2025 to mark Newmont’s third significant investment in Ghana, following the successful operations of the Ahafo South and Akyem mines.

With a capital investment ranging from $950 million to $1.05 billion, the Ahafo North project is poised to make a substantial impact on the local economy and the gold mining sector. It is projected to yield an annual gold output of approximately 275,000 to 325,000 ounces over a lifespan of 14 years. The project will underscore Newmont’s commitment to expanding its footprint in Ghana and reinforce country’s position as a key player in the global gold market.

In a move to strengthen the local economy, Mr. Johnson announced that the company has invested over $18.2 million in goods and services contracts, indicating that “this investment is pivotal to our Enhanced Local Procurement Programme, which aims to empower local businesses and generate employment opportunities for residents and build the capacity of local businesses, emphasizing the dual objectives of stimulating economic growth and reducing unemployment in the community.”

In tandem with its procurement efforts, Newmont has been taking significant steps to address the concerns of those affected by construction activities. Mr. Oduro-Kwarteng Marfo, the Acting Sustainability Manager, affirmed that the company is committed to ensuring fair compensation for individuals impacted by the project including compensation for crops, structures, and loss of land use.

“Our goal is to ensure that project-affected persons receive adequate compensation, allowing construction to proceed smoothly while also prioritizing community welfare,” he stated.

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