“Our sourcing of only renewable energy to power our operations across South America marks another step towards our 2030 GHG reduction target of 30%,” Anik Michaud, director of corporate relations and sustainable impact at Anglo American, said in the statement.
Anglo American has committed to become a carbon neutral miner by 2040
The diversified miner has committed to become a carbon neutral firm by 2040. Earlier this month, it took a step further into exiting polluting commodities by announcing it would separate its South African coal assets into a new business this year.
The move came amid mounting pressure from investors, regulators and environmental organizations to make miners either sell coal assets or to limit their exposure to the fossil fuel.
“Copper has such an important role to play in enabling the global transition to a low carbon economy,” Tom McCulley, CEO of Anglo American in Peru, said. “So it is important for Anglo American’s new world-class copper mine in Peru – Quellaveco – to lead the way by minimizing its own carbon and broader environmental footprint.”
Wind and solar
Engie Energía Perú, a subsidiary of France’s Engie, said in early April it planned to start working on the development of a $300 million, 260MW Punta Lomitas wind project in south-central Perú in coming weeks.
The facility is expected to provide 150 MW for an initial eight-year period to Anglo’s Quellaveco, located in the Moquegua region.
The copper project, with an expected capital cost of $5 billion to $5.3 billion, is expected to start operating in 2022, ramping up to full production in 2023. During the first ten years of full production Quellaveco is expected to produce approximately 300,000 tonnes per year at a cash cost of $1.05 per pound of copper.
Copper accounts for nearly 20% of Anglo’s annual revenue.
Anglo American inked last year a 15-year contract in Brazil to buy 70 MW of solar power from Atlas Renewable Energy as of 2022 for its iron ore operation in Minas Gerais.
