A Queensland University study shows bauxite, copper and iron ores face significant ESG challenges
A study published by researchers at the University of Queensland’s Sustainable Minerals Institute shows that some significant metal ores have the potential to face Environmental, Social and Governance (ESG) challenges, which may impact the global supply of metals. The scientists studied the ESG context of more than 600 individual copper, iron and bauxite ore bodies before coming to a conclusion.
Iron, copper and bauxite represent 95% of all industrial metals produced annually and demand for it is expected to double by 2050. They analysed each ore body against eight risks: waste, water, biodiversity, land uses, indigenous peoples, social vulnerability, political fragility, and approval and permitting.
“The majority of the 296 copper orebodies, 324 iron orebodies and 50 bauxite orebodies we examined are in complex ESG contexts which could either prevent, delay or disrupt mining operations,” Eléonore Lèbre, one of the researchers involved in the project, said in a media statement.
The study categorized those ore bodies with more than one risk as complex. Each of the three metals varies in their risks as they are mined in different parts of the world with different characteristics.
Bauxite is the worst-performing of the three commodities in context of ESG as almost all bauxite ore bodies are located in high-risk areas. Lèbre said that major innovation in project design and development is required to handle ESG risks.
“Even now numerous mining projects stall or are abandoned due to materialised ESG risk,” she said.
The research team has suggested government, investors and mining companies to change their methodology in order to de-risk their projects.
source: ALCIRCLE.COM
Top News
Glencore in talks to sell Philippine copper smelting unit
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
Norilsk Nickel plans to sell all it produces in 2025
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
India’s record gold import said to be due to calculation error
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Norge Mining acquires Europe’s largest natural graphite producer
Aluminum price falls to one-month low in wider commodity slump
Skeena advances Eskay Creek permitting, unlocks Orion funding
Lure of Anglo’s copper mines could test BHP’s spending resolve
Copper giant Peru foresees another production plateau in 2025
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Mercuria partners with Zambia on metals trading venture
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Lure of Anglo’s copper mines could test BHP’s spending resolve
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
