Key discussions centred on decarbonisation solutions which included adoption of renewable energy and innovative technologies to transition to carbon neutral mine fleet. Bottlenecks in the supply chain were reiterated with commercial open pit battery electrics likely to enter the market between 2027-2030. In parallel, battery storage solutions and economics are expected to improve, suggesting that the most optimal adoption of this technology at the mine site would be modular over the next 5-10 years. 

The second day delved into product footprinting, a method of measuring and analysing the carbon emissions of a product throughout its lifecycle. The discussions centred around how low-carbon critical minerals are currently valued and what would be required to achieve a premium for such products, and whether such a premium could be tied to the cost of decarbonisation at the mine site as there is no obvious point along the supply chain where it can readily be absorbed. The mining industry remains under pressure to deliver both new supply and decarbonisation initiatives, and the reality is that further support and collaboration from the investment community and throughout the supply chain is required to achieve this.

Skarn continues on its mission to quantify the value of natural capital for the metals and mining sector, for both primary and secondary production. Please get in touch for an update on our latest analysis on carbon economics which provides real life scenarios on the decarbonisation pathways for the metals and mining industry and the associated impact to operating costs. 

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