Mining Industry Feels Pressure to Go Green Despite High Costs

Some miners like Vale are switching to renewable energy like hydropower to reduce emissions and costs. This is partly due to pressure from automakers and tech companies.
Mining accounts for 4-7% of global emissions. Companies are trying to decarbonize to meet sustainability commitments.
Solar, wind, and hydropower help mines in Chile, Canada, and Indonesia cut emissions. But many still rely partly on fossil fuels during the process.
Switching to renewable energy infrastructure requires high upfront costs. But it can pay off long-term through lower operating costs.
Investors and consumers play a key role in pushing companies to clean up operations. But phasing out fossil fuel reliance will likely mean higher prices.

yahoo.com

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Posted 10/2/2023, 1:22:00 AM