Environmental Social Governance (ESG)
Green Glen Minerals is committed to responsible exploration and development.
The Company will use best practice and maintain the highest standards when going about exploration activities while engaging in open communication with stakeholders at all times.
The Grampian Gold Belt of Scotland is underexplored with great potential for new gold discoveries, but Scotland has many other characteristics that will appeal to investors looking at responsible and sustainable opportunities in the resource sector.
Technology metals and the future of mining in the UK, most notably Cornwall, has been the subject of considerable attention in recent years, but the board of Green Glen Minerals believes Scotland can be a potential leader in new ‘greener’ decarbonised mining. Renewables met 97% of Scotland’s electricity demand in 2020 and Scotland has some of the most ambitious climate targets in the world, with its Climate Change Bill setting out a legally binding target of reaching net-zero emissions by 2045.
According to the World Gold Council, 95% of greenhouse gas emissions at mine operations are due to power or fuel combustion. In Scotland, these emissions do not occur due to a decarbonised grid. A new mine in Scotland supplied by >97% renewable energy utilising an electric underground fleet could be a very attractive proposition for investors seeking exposure to responsible exploration and potential mining projects.
Gold mines can be easily decarbonised as follows:
- Purchase of renewable energy to power the mine and mill combined with energy capture solutions and other efficiencies relating to drives and the mill.
- Use of an electric mining fleet – the board see this as the technology of choice for all new mines in the near future with the added benefit of reducing underground ventilation costs and associated energy savings.
- Carbon offsetting which is minimal if decarbonised grid power and electric fleet are used.
- Gold mining is unusual in that it has little to no scope 3 emissions.
The result is ‘Green Gold’ – a decarbonised financial asset and a project that meets the criteria for ESG-focussed investors. The Green Glen Resources team are keen to explore how the Company will further meet the challenges of decarbonising exploration as it progresses its projects with the aim of making an economic discovery in a jurisdiction that is leading the way with renewable energy.
Links: https://www.bbc.com/news/uk-scotland-56530424
World Gold Council:
‘Gold and Climate Change: The Energy Transition’ looks at gold mining’s energy transition and climate impacts over the next decade. This should provide investors and industry stakeholders with greater clarity around gold’s greenhouse gas emissions profile, the opportunities for the gold sector to decarbonise, and its potential pathway to net-zero, in line with Paris Agreement targets.